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The future of insurance looks green

The future of insurance looks green

IAG NZ, New Zealand's largest insurance company trading under the State and NZI brands, today released its third sustainability report, called See.

See discusses IAG NZ's commitment to sustainability, and to being a sustainable business, through dedication to employees, customers and community.

The company's commitment to be carbon neutral by 2012 underlies many of the initiatives discussed in the report. IAG NZ is the first insurer in New Zealand to commit to becoming carbon neutral.

Our changing climate is a strong feature of the report, and an issue CEO Nick Hawkins believes is the biggest facing the insurance industry.

"We're seeing an increase in the frequency and severity of weather events, which means more destruction and higher insurance losses. Our challenge is to educate and protect our customers, dedicate resources to understanding climate change and manage costs to keep insurance affordable," he explains.

This year, a concise version of the report has been printed, with more information available online at www.seeonline.co.nz.

Highlights include the construction of a 5 Green Star rated office building for IAG NZ's Auckland operations and the release of the first sustainable insurance products in the New Zealand market, which reward customers for sustainable behaviour. The report also talks about how IAG NZ is working with suppliers, partners and employees to help them be more sustainable.

IAG NZ's 2006 sustainability report won the award for Best Sustainability Reporting by a corporate at the New Zealand Institute of Chartered Accountants 2007 Annual Report Awards.


About IAG New Zealand Limited

IAG New Zealand Limited (IAG NZ) trades under the State and NZI insurance brands and underwrites general insurance for some of the country's leading financial institutions. IAG NZ is New Zealand's largest general insurer, with a 36% share of the insurance market, managing 2.7 million policies on behalf of more than 1 million New Zealanders. IAG NZ is a wholly owned subsidiary of Insurance Australia Group (IAG), Australasia's largest general insurer.


ENDS

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