Matthew Cody

Founded in Christchurch in 1926 as the South Island Motor Union (SIMU), AMI Insurance has evolved over nearly 100 years into the largest wholly-owned New Zealand fire and general domestic lines insurance company. It is founded in Christchurch in 1926 as the South Island Motor Union (SIMU). With a head office in Christchurch, 73 branches and 21 agencies throughout the country, it is a truly national company, with nearly 500,000 customers holding some 1.2 million policies. Their New Zealand policyholders own AMI. That's because they have what is known as a “mutual” structure, common in the insurance industry overseas. There are no shareholders expecting to be paid a dividend out of the annual profit. Their profits are reinvested in the company for the benefit of policy holders. Their branch and agency network is the largest of any insurance company in New Zealand and they encourage their customers to deal directly with their staff, numbering about 1000 across New Zealand, for personal and friendly service. AMI is run for the benefit of their policyholders, who are also their owners. They do not pay dividends to policy holders, but retain profits as capital reserves for their future benefit, as well as investing in their community with sponsorships as diverse as the Canterbury Rugby, the Malaghan Institute for Medical Research, the Rugby Referees Association, Parents Inc, the Christchurch Symphony Orchestra and many others.