Ansvar Insurance will leave New Zealand market

Ansvar Insurance, an insurance company owning 20,000 housing insurance contracts in New Zealand, will step off NZ insurance market later this year.

Ansvar Insurance announced this September that they would stop serving New Zealnd with quake insurance contracts and suggested on November 11 that they would leave NZ market as a result of possible price rise caused by Canterbury quakes.

Ansvar also negotiated with other insurers on transferring part policies of clients, excluding those clients in red zone of Christchurch.

The company is mainly in charge of insurance claims for church, education and historical buildings, and announced in September that they would not provide quake insurance for over 600 churches from December 1st.

John Wash, spokesman of the insurance company, suggested that though there are only 30 staff and the company need them to handle claims of the clients, Ansvar still wants to downsize.

Ansvar Insurance will leave New Zealand market