Our team of engaged and motivated people are the reason for our success. Through our supportive culture, they're inspired and empowered to go the extra mile to help our customers each day.
Our business is as much about the intrinsic value of our people and relationships, as it is about underwriting and investment.
Talent doesn’t confine itself to one gender, culture, or group of people. We believe we can use what we learn about our diverse workforce, at all levels of business, to help develop a better understanding of our workplace, better serve our customers and create a more competitive advantage as an employer of choice.
It’s well recognised and reported that innovative organisations attract and retain people who are passionate about customers and have a broad range of skills, experiences, ideas and perspectives.
To ensure we make the most of this opportunity in our own work culture and organisation, we have a diversity ambition that states: “We respect and value the different experiences of our people, and harness the opportunity and business benefits that diverse ideas and perspectives bring to our organisation and stakeholders”.
Working for NZI offers enjoyable and challenging employment opportunities in a variety of roles. If you’re interested in knowing more, find out about career opportunities at NZI.
Diversity, inclusion and belonging
At NZI, we believe in having an inclusive and supportive environment where everyone can be true to themselves and know that they belong. We’re focused on making your world a safer place for our people, our customers and our communities.
Our participation in the Rainbow Tick programme enables us to build a diverse community and an inclusive place to work where we celebrate what makes us unique.
Fair Insurance Code
NZI is a member of the Insurance Council of New Zealand (ICNZ), an industry organisation which represents fire and general insurers in New Zealand.
As an ICNZ member, NZI abides by the ICNZ fair insurance code.
Additional information, including consumer advice about insurance, is available on the Insurance Council of New Zealand website.
AA- Financial Strength Rating
We’re proud of our reputation for delivering innovative insurance solutions, supported by a solid record of focused, responsive performance. This is reflected in our Standard & Poor’s financial strength rataing of AA- ("very strong") and our solvency margin.
NZI is a business division of IAG New Zealand Limited (IAG). IAG has received a financial strength rating of AA- from Standard & Poor’s (Australia) Pty Ltd, an approved rating agency.
A rating of AA- means IAG has a ‘very strong’ claims-paying ability, as you can see in the scale below.
The rating scale is:
AAA (Extremely Strong)
AA (Very Strong)
CCC (Very Weak)
CC (Extremely weak)
SD (Selective Default)
R (Regulatory Supervision)
NR (Not Rated)
The ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or
minus (-) sign to show relative standing within the major rating categories.
The rating scale above is in summary form. A full description of this rating scale can be obtained from www.standardandpoors.com.
In its Half-Yearly Solvency Return filed with the Reserve Bank of New Zealand, IAG New Zealand Limited had a Solvency Margin as at 31 December 2019 as follows:
Actual Solvency Capital
Minimum Solvency Capital
Sustainability and the community
As a Sustainable Business Network (SBN) sponsor, NZI has helped to develop initiatives that reward sustainable business practice including:
Our sponsorship connection
We're committed to helping New Zealand, New Zealand businesses, and New Zealanders grow and succeed.
Our sponsorships include:
NZI is a First Foundation Scholarship Partner. This means we help give young New Zealanders a hand up to tertiary education through the First Foundation.
An educational trust, the First Foundation believes that all young people should have the opportunity to achieve their dreams, regardless of their socio-economic status. The trust also believes that financial assistance is only part of the package.
Our support of three First Foundation scholars from low-decile schools not only involves assistance with their tertiary fees over four years of education; we also provide part-time work and a variety of work experiences, the support of a mentor and a structured development programme.
Our scholarship – the Austin Hemmings Memorial Scholarship – is in memory of Austin Hemmings, an NZI manager who tragically lost his own life when he stepped in without hesitation to protect a woman in need one night in 2008. He was an extraordinary leader who invested enormous time and teaching in his team.
If you’d like to know more about how the trust has transformed more than 300 young lives, visit First Foundation.
As an insurer with 160 years in business, NZI has a long history of supporting New Zealand farmers, and a passion for providing insurance for a growing New Zealand. NZI is powered by the backing of IAG New Zealand, and as the largest insurance group in New Zealand, we have the security to support farming businesses, their people and their families through the worst of times.
We’re committed to farming and the rural sector and we are delighted to be working with Rural Women New Zealand as the premium partner of the NZI Rural Women New Zealand Business Awards, which celebrate business excellence in rural communities.
We embarked on this partnership as our organisations share many core values.
- We know Rural Women NZ are involved in important social and environmental issues, providing much needed support for women in rural communities. We respect the work they are doing in the community, especially as it aligns well with our own purpose which is: ‘To make the world a safer place’.
- Just as there are Rural Women New Zealand members in all areas around the country, at NZI our local knowledge is one of our strengths. We’ve built a team of experts across the country who are knowledgeable and passionate about the rural sector and we understand about what matters most to farmers. Our nationwide office network works closely with our local broking partners to understand the challenges – and the opportunities – that rural Kiwis work with every day.
- Supporting Kiwi communities is integral to our values. It’s not just through our sponsorships that we support local communities. It’s every day. Our support enables clients to take risks and be successful, and to let farmers runs their business knowing they are protected if they experience a large loss.
- We’re delighted to be recognising leadership and enterprise in New Zealand’s rural women by supporting Rural Women New Zealand. Within our own organisation we place a strong focus on women in leadership and have committed to an an IAG New Zealand target of 50 percent of women in leadership roles by 2020.
NZI is committed to helping New Zealand businesses and New Zealanders grow and succeed. Sponsorship is about gaining an emotional connection with people by association with an event or organisation that reflects what NZI is all about.
Our foundation sponsorship of the Sustainable Business Network (SBN) is a good example. SBN provides advice and support to businesses to succeed through sustainability. In turn, these businesses are revolutionising the New Zealand business landscape and providing a sustainable future for New Zealand and New Zealanders.
Here are some of the criteria we look for when considering sponsorship opportunities:
· Is it a logical link or fit with our business and does it support our strategy?
· Does it link with insurance, risk or risk expertise?
· Does it create opportunities for us to communicate key messages with our target market?
· Are there logical leverage opportunities for our business?
· Does it give NZI’s people and branches an opportunity to get involved?
If you have a sponsorship enquiry, please email email@example.com and our team will respond within 10 days.
We’re proud of our heritage. Established in 1859, NZI is one of New Zealand’s longest serving insurance companies. We’ve grown through acquisitions and mergers, and as you’d expect, we’ve built up a wealth of experience and knowledge in this time.
The late 1800s was a period of rapid expansion. With the decline of the British Empire, nationalism was on the rise, traditional insurance markets were changing and the Great Depression added its challenges. New Zealand Insurance (as we were called then) entered the accident field in 1905, buying the New Zealand Accident Insurance Company - underwriting plate glass, burglary and other risks throughout Australasia. In 1958 we entered into a ‘friendly alliance’ with Mutual Life and Citizen Assurance, and five years later acquired F.A.M.E Insurance. By 1969 we owned 100% of Victoria Insurance.
The latter half of the 1900s was a time of increased competition, insurance rates and inflationary claims pressures. When Cyclone Tracy unleashed its devastation on Darwin in 1975 it became the biggest single loss since the San Francisco fire in 1908.
So with compounding pressures, New Zealand Insurance and South British Insurance acknowledged common interests and complementary natures, and merged in 1981. They operated as part of the New Zealand South British Group, under the NZI brand.
NZI was acquired by Insurance Australia Group (IAG) in 2003 and is today operated by IAG’s subsidiary, IAG New Zealand Limited. We're thrilled to still be serving New Zealanders and look forward to another 160 years of doing so.