AMI Insurance has reported a rise in profit and says it is working hard to process claims from the Canterbury earthquake.The $31 million net surplus after tax in the year to June 30 is up from $18.5 million in 2009.AMI did not provide an estimate of its c
AMI Insurance has reported a rise in profit and says it is working hard to process claims from the Canterbury earthquake.
The $31 million net surplus after tax in the year to June 30 is up from $18.5 million in 2009.
AMI did not provide an estimate of its claims for the magnitude 7.1 earthquake on September 4 in Christchurch but said it has a comprehensive reinsurance programme.
"This result will provide confidence to our customers that AMI is very well positioned to deal with any unforeseen events that may arise, including natural disasters," chief executive John Balmforth said.
The earthquake had highlighted the benefit of having insurance, he said.
"For many of our customers and staff personally affected by the Canterbury earthquake the last eight weeks have been a period of immense stress."
The AMI response to the earthquake was a total team effort.
"Given our New Zealand-based call centres and over 800 staff we were able to support our Canterbury based customers and others in the South Island as the phones began to ring. AMI is progressing well with the huge volume of customer claims and enquiries received, and I can't thank the entire team enough for the dedication and professionalism they have shown," Mr Balmforth said.
In the year to June 30 written premiums increased to $341m from $302m in 2009 and total cost of claims remaining relatively stable at $195m.
