IAG names Matthew Cody as general manager of AMI

AMI Insurance has named Matthew Cody as general manager following its acquisition by Insurance Australia Group.

Cody is currently AMI's executive manager information support. He will take up the new role on July 1.

IAG agreed to buy AMI for $380 million in December after the Canterbury earthquakes drained AMI's reserves and drove up reinsurance costs, leading to a government bailout.

Some, 18 percent of AMI’s exposure was in the Christchurch market, despite only 9 percent of the country’s population living there. Christchurch had not been previously considered high risk for earthquakes, compared with other parts of New Zealand.

BusinessDesk.co.nz

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