Finance Minister to announce AMI bailout?
English to hold emergency press conference at 10am on a "Canterbury earthquake related" matter - understood to relate to struggling insurer AMI.
Finance Minister Bill English is to hold an emergency press conference at 10am on a "Canterbury earthquake related" matter.
The conference is understood to relate to yesterday's news that insurer AMI is struggling to meet claims following the Canterbury earthquake.
Last night the government confirmed its two agencies charged with financial oversight, the Reserve Bank and the Treasury, are "closely watching" AMI.
Options could include a full bailout or, more likely, a commitment to underwrite the company's position until it can find a suitable way of re-capitalising.
Rob Hosking
Thu, 07 Apr 2011
Thu, 07 Apr 2011
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Finance Minister to announce AMI bailout?
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