8 July 2004
Mike Henry Travel Insurance partners with IAG
Mike Henry Travel Insurance (MHTI) is pleased to announce that it has sold half of its shares to IAG New Zealand
Limited (IAG NZ).
IAG NZ is owned by Insurance Australia Group and underwrites and distributes general insurance products through both
the State and NZI insurance brands in New Zealand. It carries a Standard & Poor's credit rating of AA.
MHTI Managing Director Steve Nichols said it will be "business as usual" with no change in the management of the
company. "Travel Agents will continue to enjoy the same high level of service that we've delivered since our inception
21 years ago," he said.
Mr Nichols said the company remained committed to developing new and innovative travel insurance products in the
future. "We'll continue to pursue initiatives, similar to our Travel Wizard system, which add value to the travel
industry and its clients."
IAG NZ Chief Executive David Smith said he was delighted with the arrangement and looked forward to underwriting MHTI
business in the future. "We can now support the market leading travel insurer with our strong Standard & Poor's AA rating," he said.
The "Mike Henry" brand will be retained and a new Board of Directors will be formed. It will include Mike Henry and
Steve Nichols with two representatives from IAG NZ.
ENDS