NZI

NZI or New Zealand Insurance is a major insurance company in New Zealand. NZI was formed in Auckland in 1859 and is one of New Zealand's largest and longest-serving fire and general insurance brands. It merged with South British Insurance in 1982(?); the two companies had been equally matched rivals and were virtually the same size, but with different emphasis on the types of business they held. At the time the company changed its name to the New Zealand South British Insurance company, but shortened it to NZI Insurance a few years later. In January 2003 IAG, Insurance Australia Group purchased NZI when acquiring Aviva's general insurance business, and NZI is now a subsidiary of IAG New Zealand Ltd. Aviva predecessor General Accident bought NZI in 1989. NZI focuses on providing products to the broker market.