Today AMI Insurance has begun a new era under the ownership of Australia and New Zealand’s largest insurance group IAG. At the same time, a government-owned company, Southern Response, based in Christchurch, has become responsible for settling all claims by AMI customers for earthquake damage which occurred prior to today. With the completion of the transactions, AMI’s 500,000 customers (including CLIC Car Insurance customers) have had their insurance cover transferred automatically to a new company, sold to IAG and trading under the AMI name, without having to take any action at all and their insurance cover will continue unchanged. AMI policyholders with earthquake-related claims are now customers of both the ’new AMI’ and Southern Response until their earthquake claim is settled.

AA Insurance was launched on the 15th of August 1994 as a joint venture between GIO Australia and the New Zealand Automobile Association. The goal of AA Insurance was to provide AA Members with a range of insurance products tailored to specifically meet their needs. In 2002, a new joint venture partner, Royal & Sun Alliance Insurance (New Zealand) Limited, acquired a 68% shareholding in AA Insurance Limited. In 2003 Royal & Sun Alliance altered its organisational structure and listed on the New Zealand stock exchange as Promina. Royal Sun Alliance (New Zealand Limited) re-branded under the name Vero Insurance (New Zealand) Limited and is an integral part of the Promina family, which is New Zealand's largest composite insurance Group.