AIG

What AIG does

AIG Insurance New Zealand Limited is a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG), operating as a licensed general insurer in New Zealand since 1970 and incorporated in its current form on 1 December 2011 as the first licensed insurer under the Insurance (Prudential Supervision) Act 2010. The entity underwrites commercial property, casualty (general and product liability, contaminated product recall), financial lines (CyberEdge, Crisis Solutions, Gold Complete management liability, PrivateEdge, ProfessionalEdge), specialty lines (aerospace, energy, environmental, marine, surety, trade credit), accident and health, corporate travel, SME packaged solutions, and a multinational insurance programme served through locally admitted coverage in over 200 territories. Distribution is anchored by NZ insurance brokers for commercial lines, with consumer products embedded through four major NZ banks (ASB, BNZ, Westpac, TSB), airlines (Emirates), online platforms (Expedia), and OEM partners (Apple, Dell, Norton, Ironclad). The company runs a digital layer comprising myAIG Client Portal, online claims portals, the Travel Guard mobile app, and CyberEdge loss-prevention tools, and disclosed $193.8M NZD solvency capital against a $71.3M prescribed capital requirement (solvency result 272%) at 31 December 2025 with an A+ (Strong) S&P insurer financial strength rating.

Revenue mechanics rely on recurring insurance premiums collected across multiple commercial and consumer lines (property, casualty, financial lines, specialty, travel, accident & health, M&A), supplemented by commissions paid by or through brokers, agents, banks, airlines, and retailers on a contingent or fixed-percentage basis. Pricing is quote-based, risk-assessed, and billed annually, with no public price disclosure; customers self-select into either a sales-led/broker intermediated channel (commercial) or an embedded consumer channel (card-linked travel, purchase protection, extended warranty, identity theft). The company does not disclose standalone NZ revenue, but its parent reported US$25.5B in 2022 General Insurance net premiums written and US$527B in total assets across roughly 70 countries.

Name

AIG

Legal name

AIG Insurance New Zealand Limited

Website

https://aig.co.nz

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

AIG Insurance New Zealand Limited is a wholly owned subsidiary of American International Group underwriting commercial property, casualty, financial lines, specialty, travel, accident and health, SME package, and M&A insurance in New Zealand, distributed through brokers, four major NZ banks, airlines, and OEM partners.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Insurance Carriers (5241), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Travel & Accident (Non-Life) Insurance (FSAJAMAN)

akta.pro secondary industries

Aviation Specialty (FSAJAGAK), Aviation Liability Insurance (Passenger & Third-Party) (FSAJAHAD), Excess Casualty (Lead/Umbrella/XS) (FSAJAGAA)

Keywords

• Commercial property insurance
• Specialty insurance solutions
• Casualty insurance coverage
• Financial lines insurance
• Multinational insurance programs

Headquarters

HQ city

Auckland

HQ country

New Zealand

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: AIG generates revenue through insurance premiums collected from policyholders across various insurance lines including property, casualty, financial lines, travel, accident & health, specialty, multinational, and M&A insurance products. Premiums are collected at policy inception and renewal.
2. Commissions from Distribution Partners: Revenue generated through commission arrangements with insurance brokers and agents who distribute AIG products. Commissions are paid as a percentage of premium or specific dollar amounts.
3. Contingent Compensation: AIG may pay contingent compensation to insurance brokers and agents based on criteria such as volume of new sales, overall production volume, mix of business, or overall profitability of placed policies.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

AIG Insurance New Zealand Limited is a licensed general insurer providing commercial and specialty insurance products to businesses ranging from SMEs to large multinational corporations. The company underwrites property, casualty, financial lines, specialty (aerospace, energy, marine, surety, trade credit), accident & health, corporate travel, and M&A insurance solutions, distributed primarily through insurance brokers with supplementary channels including bank partners and direct contact.

Product overview

AIG New Zealand offers a comprehensive insurance platform spanning commercial and specialty lines. The core portfolio includes Commercial Property, Specialty Insurance (Aerospace, Energy, Environmental, Marine, Surety, Trade Credit), Casualty (General & Product Liability, Contaminated Product Recall), and Financial Lines (CyberEdge, Crisis Solutions, Gold Complete, ProfessionalEdge). Supporting products include Accident & Health, Corporate Travel (with Travel Guard assistance), Package SME Solutions for businesses up to $25 million, and Multinational Insurance programs. The M&A solutions suite covers Warranty & Indemnity, Tax Liability, and Litigation Buyout insurance. AIG also operates digital platforms including myAIG Client Portal, Express Claims Service for SME property claims under $15,000, and online claim portals (digitalclaims.aig.com, cdpfnol.aig.com, claims.travelguard.com). The Fair Conduct Programme ensures consumer insurance compliance under New Zealand Fair Conduct Principle.

Differentiator

Problem solved

Functional benefit

Brands

• CyberEdge: Cyber insurance policy providing end-to-end risk management solution for data breaches, computer hacking, and employee error.
• Contaminated Products & Recall Insurance
• Gold Complete

Products and services

• Commercial Property Insurance Comprehensive property damage coverage for businesses protecting against financial and reputational risks, covering physical damage and loss of income for commercial properties from $25 million insurable values across manufacturing, telecommunications, healthcare, education, real estate, retail, and transport sectors.
• Specialty Insurance Broad range of specialty insurance products including Aerospace, Energy and Engineered Risks, Environmental, Global Risk Solutions, Marine, Surety, and Trade Credit coverage for complex industry-specific risks.
• General and Product Liability Insurance Comprehensive liability coverage protecting businesses against compensation and legal fees from accidents or injuries caused by company activities, with policy limits up to $100 million available.
• Contaminated Product and Recall Insurance Crisis management solutions covering recall costs, replacement costs, extortion costs, rehabilitation expenses, consultant costs, and business interruption for manufacturers, producers, suppliers, and retailers facing product contamination or recall events.
• CyberEdge Cyber Insurance End-to-end cyber risk management solution covering data breaches, computer hacking, and employee error, with features including Response Management, Data Liability, Fines and Investigations coverage, and network interruption protection, supported by CyberEdge Loss Prevention Tools.
• Crisis Solutions Holistic crisis management solution covering kidnap, ransom, extortion, hijack, disappearance, detention, threat assessment, and security evacuation situations, with access to Crisis24 response consultants across 16 global locations and limits up to US$50 million.
• Gold Complete (Management Liability) Comprehensive management liability insurance with 13 modular coverages including Directors and Officers liability, with features like Kidnap and Ransom module, integrated Costs and Expenses module, and versions for financial institutions.
• PrivateEdge (Private Company Liability) Professional and management liability coverage designed for private companies and high-net-worth individuals.
• ProfessionalEdge (Professional Indemnity Insurance) Professional liability coverage protecting professionals against claims arising from negligence, errors, or omissions in their professional services.
• Accident and Health Insurance Group Personal Accident insurance providing coverage for workplace and group accident scenarios, with online submission through the Digital Claims Platform.
• Corporate Travel Insurance Comprehensive business travel insurance with 24/7 Travel Guard assistance, covering employees up to 80 years with unlimited overseas medical evacuation, $25,000 baggage limits, $250,000 personal injury cover, and rental vehicle excess cover.
• Package SME Solutions Multi-line insurance packages for micro to medium-sized businesses including Material Damage, Business Interruption, Earthquake, General Liability, Statutory Liability, and Employers Liability for businesses with up to $25 million at any location.
• Multinational Insurance Global partnership providing multinational program design, locally admitted insurance in over 200 territories, with tools including myAIG Client Portal and multilingual training for cross-border programme management.
• Warranty and Indemnity Insurance M&A insurance protecting buyers and sellers from financial losses due to inaccuracies in warranties and indemnities during business acquisitions, covering title, commercial, and tax matters.
• Tax Liability Insurance Tax Opinion Liability Insurance protecting companies from financial impact of tax authority challenges following acquisitions or divestments, with policy terms up to seven years.
• Litigation Buyout and Special Situation Insurance Insurance ring-fencing litigation liabilities to facilitate M&A transactions, covering known risks, lawsuits, or claims including threatened litigation with quantified and separated potential liabilities.

Quantifiable outcome

• Commercial Property Express Claims - claims under $15,000 eligible for faster assessment and settlement
• +4 more outcomes

Named customers15 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

17 partnerships are on record, tiered minor and core.

• NM InsuranceminorChannel Partner/ Reseller/ Distributor · 1 October 2015NM Insurance is a general insurance underwriting agency that operated under binding authority from AIG between 1 October 2015 and 16 July 2020. NM Insurance issued and administered products under various brands including Nautilus Marine, Yamaha Marine, Honda Rider, NM Motorcycle, Kawasaki Motorcycle, and Yamaha Motorcycle Insurance. This partnership has concluded.
• Travel GuardcoreStrategic or Co-development PartnerTravel Guard is AIG's travel partner providing 24-hour worldwide emergency assistance services. With eight strategically located, multi-lingual assistance centres and over 1,000 staff, Travel Guard offers emergency medical and travel aid, medical advice from doctors and nurses, and real-time translation services. Available 24/7 in 40 different languages.
• Crisis24 (Garda)coreStrategic or Co-development PartnerCrisis24 is AIG's global response partner for crisis management solutions. World-leading crisis consultancy with consultants based strategically across 16 global locations. Provides expert support for kidnap, ransom, extortion, hijack, disappearance, detention, threat assessment, and security evacuation situations.
• NSF InternationalcoreStrategic or Co-development PartnerNSF International is AIG's partner for contaminated product insurance, providing pre-loss consulting services to help identify and reduce product contamination risks. NSF also provides expert crisis management advice to mitigate contamination impact, helping protect company profits and reputation.
• ASB BankcoreChannel Partner/ Reseller/ DistributorASB Bank is a distribution partner for AIG consumer insurance products, including travel insurance through eligible ASB credit cards.
• BNZ (Bank of New Zealand)coreChannel Partner/ Reseller/ DistributorBNZ is a distribution partner for AIG consumer insurance products, including travel insurance and accidental damage, theft or loss insurance through eligible BNZ credit cards.
• WestpaccoreChannel Partner/ Reseller/ DistributorWestpac is a distribution partner for AIG consumer insurance products, including travel insurance through eligible Westpac credit cards, purchase protection, and extended warranty.
• TSB BankminorChannel Partner/ Reseller/ DistributorTSB Bank is a distribution partner for AIG consumer insurance products, including purchase protection and extended warranty through eligible TSB credit cards.
• NortonminorChannel Partner/ Reseller/ DistributorNorton is a distribution partner for AIG's Identity Theft Insurance product, offered alongside Norton's security software products.
• IroncladminorChannel Partner/ Reseller/ DistributorIronclad is a distribution partner for AIG's Identity Theft Insurance product.
• DeloitteminorImplementation/ SI/ Consulting PartnerDeloitte was engaged by AIG to help make refund payments to affected customers under the Pricing Promise remediation programme.
• Financial Services Complaints Limited (FSCL)minorOthersFSCL is an independent external disputes resolution scheme approved by the Ministry of Consumer Affairs. AIG New Zealand complies with any decision made by FSCL for unresolved customer complaints.
• Insurance Council of New Zealand (ICNZ)minorOthersAIG is a member of the Insurance Council of NZ and adheres to the Fair Insurance Code, which provides assurance of high standards of service for customers.
• ExpediaminorChannel Partner/ Reseller/ DistributorExpedia is a distribution partner for AIG travel insurance products sold through the Expedia platform.
• EmiratesminorChannel Partner/ Reseller/ DistributorEmirates is a distribution partner for AIG travel insurance products offered to Emirates passengers.
• AppleminorChannel Partner/ Reseller/ DistributorApple is a partner for Technology Asset Accidental Damage, Theft or Loss Insurance for eligible Apple products distributed through AIG.
• DellminorChannel Partner/ Reseller/ DistributorDell is a partner for Technology Asset Accidental Damage, Theft or Loss Insurance for eligible Dell products distributed through AIG.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Tower Insurance: NZ-listed general insurer offering property, motor, commercial and travel insurance through direct and broker channels. Direct competitor in commercial property and SME segments where AIG NZ is also active.
• IAG New Zealand: Direct competitor in NZ general insurance; offers commercial property, casualty, specialty and consumer lines through NZI, AMI and Lumley brands. Largest NZ general insurer with overlapping product portfolio and broker distribution model.
• Vero Insurance (Suncorp NZ): NZ general insurer (part of Suncorp Group) offering commercial, SME and consumer lines through broker and direct channels. Competes head-to-head with AIG NZ in commercial property and liability underwriting.
• FMG (Farmers' Mutual Group): NZ mutual insurer focused on rural and commercial property. Comparable in commercial property underwriting and broker-led distribution, though concentrated in primary sector versus AIG NZ's broader industry mix.

Broad incumbents

• Chubb Insurance New Zealand: Global specialty insurer with NZ presence, particularly strong in financial lines, D&O, professional indemnity and accident & health - directly comparable to AIG NZ's Gold Complete, ProfessionalEdge and A&H products.
• Liberty Specialty Markets: Specialty insurer (part of Liberty Mutual) with APAC presence offering aviation, marine, energy and financial lines. Directly comparable to AIG NZ's Aerospace, Energy and Marine specialty offerings.
• Allianz Australia / Allianz New Zealand: Global insurer with NZ operations offering commercial, specialty and consumer lines. Comparable as a multinational general insurer with broker distribution; broader portfolio but smaller NZ franchise than AIG.
• Zurich Insurance New Zealand: Global insurer with NZ presence offering commercial and specialty lines. Comparable in multinational programme capability and specialty risk underwriting; smaller NZ footprint but similar product breadth.
• QBE Insurance New Zealand: Global general insurer with NZ operations offering commercial property, casualty and specialty lines through brokers. Comparable multi-line carrier competing for the same mid-market and large commercial accounts.

Others

• Aon New Zealand: Major insurance broker and risk adviser in NZ. Functions as both a key distribution channel for AIG NZ and an indirect competitor in risk advisory; several AIG NZ leaders (including GM) previously worked at Aon NZ.

Market position

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/AIG
• Facebookfacebook.com/AIGInsurance
• LinkedInlinkedin.com/company/aig
• Instagraminstagram.com/aiginsurance
• Xx.com/AIGinsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AIG