Southern Response satisfied existing Crown support will cover current liabilities

Wed, 11 Nov 2015

By Paul McBeth Nov. 11 (BusinessDesk) - Southern Response Earthquake Services, the Crown entity established to house AMI Insurance's earthquake liabilities, says existing Crown support of up to $1 billion will be enough to cover its current liabilities, and it is confident the government will stump up more funding if needed. The Christchurch-based Crown entity has started drawing down on two $500 million facilities provided by the government to first bailout AMI, and then to capital Southern Response once it had exhausted its investments...

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