Media Announcement
Classic Cover Insurance Limited
30 June 2009
Australian Consolidated Insurance Limited announces the completion of the acquisition of New Zealand (Hamilton) based classic motor vehicle underwriting agency Classic Cover Insurance Limited effective 30th June 2009. Classic Cover Insurance Limited becomes a wholly owned subsidiary of the Australian Consolidated Insurance Limited group of companies, managed by our underwriting agency group Consolidated Underwriting Services Pty Ltd.
The acquisition of Classic Cover provides a strong platform for our New Zealand underwriting agency growth complimenting our growing presence in Australia via CEMAC Pty Ltd and Aurora Underwriting Agency Pty Ltd.
We are very pleased that Classic Cover’s existing security, Vero Insurance New Zealand Limited will continue the existing underwriting agency arrangements.
I am delighted to also announce that Classic’s founder Mark Joblin will maintain his management role as Chief Executive reporting to William Legge, Chief Executive Officer for Consolidated Underwriting Services Pty Ltd which ensures “business as usual” for the team in Hamilton, our broker friends and customers.
The addition of CEMAC and Aurora’s range of products can now be provided to New Zealand brokers currently supporting Classic Cover adding a greater value to the relationship.
Enquiries to be directed to:
Wayne Miller
Executive Chairman
Australian Consolidated Insurance Limited