Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 


Scoop Audio: Bill English On Government Backing For AMI

Scoop Audio: Bill English On Government Backing For AMI


bill english
Click for big version

Finance Minister Bill English today announced a "back up" financial support package for AMI insurance. It is not certain that AMI can pay claims arising from the Christchurch earthquake.

The package allows the Government, if called on, to invest up to $500 million in the company. It can at any time use $100 million to take control of the company. Mr English said this would not be a "bailout", as AMI is a mutual company effectively owned by its policyholders.

The guarantee is intended to allow AMI to continue trading and seek other support on the market, and would be activated only as a "last resort".

Estimates of AMI's current unsupported liability range from zero to one billion dollars, Mr English said.

A support letter provided by the Government earlier in the month may have prevented a significant downgrading of AMI's credit rating.

********

© Scoop Media

 
 
 
 
 
Top Scoops Headlines

 

'Opening The Election' Video: Nicky Hager And Mike Joy On Science, Spin, And Society

In two videos relevant to the March for Science from Scoop's 'Opening The Election' forum, Massey University's Dr Mike Joy spoke about promoting science in the face of government spin and journalist Nicky Hager offered a checklist of issues to promote for an open civil society. More>>

ALSO:

Gordon Campbell: On Regime Change, Bombs And Syria

Now that America has found its greatness again the traditional way – by bombing someone – the misgivings have set in. Despite the 57 Cruise missiles fired at the al Shayrat airbase in Syria, the airbase was reportedly functioning again soon afterwards. More>>

ALSO:


Earlier:

Gordon Campbell: On War Crimes And The Afghan Insurgency

Mapp’s attempted defence of the SAS on RNZ this morning unintentionally indicated that collective punishment was baked into the planning exercise for the raid, and also into how the raid proceeded on the ground. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
Top Scoops
Search Scoop  
 
 
Powered by Vodafone
NZ independent news