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NZ insurer focuses on the environment

18 November 2004

NZ’s largest general insurer focuses on the environment

New Zealand’s largest general insurer has added hybrid vehicles to their company fleet - becoming one of the first corporates in the country to do so.

IAG New Zealand Limited, which trades under the State and NZI brands, has leased eight hybrid vehicles and plans to continually add to the fleet.

IAG NZ CEO David Smith is pleased the company – winner of the large business category at the National Sustainable Business Awards 2004 - is leading the way in taking sustainable transport options seriously.

“The effects of climate change mean we all have to take responsibility for our waste and emissions,” he said.

IAG NZ is acutely aware of how the environment can impact the insurance industry. For example, the last 18 out of 20 major insurance events in New Zealand have been weather-related. With these types of natural disasters on the rise, the insurance industry has a vested interest in ensuring that our natural environment is preserved.

“We run 280 company vehicles, require electricity to run our offices and use a lot of paper,” said Mr Smith. “The production, distribution and consumption of these resources all create greenhouse gases that contribute to global warming.

“Company targets have been set to reduce these emissions and the hybrids are one way we can do this.”

The eight cars purchased include four Toyota Priuses and four Honda Civic Hybrids. These are high performance vehicles that use 50% less fuel than a conventional engine and produce 90% less greenhouse gases.

About IAG New Zealand

IAG New Zealand Limited is a wholly owned subsidiary of Insurance Australia Group (IAG) Australasia’s largest general insurer. In New Zealand it trades under the State and NZI insurance brands and underwrites general insurance business for some of the country’s leading financial institutions. It has approximately 40% share of the general insurance market and manages 2.5 million policies on behalf of more than 1 million New Zealanders.

ENDS

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