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China Taiping Insurance halts new cover in quake-prone Wellington, Canterbury
By Paul McBeth May 31 (BusinessDesk) - China Taiping Insurance (NZ), the local unit of the Hong Kong exchange-listed insurer, has told brokers it won't underwrite any new business in Wellington or Canterbury as it clamps down on its criteria at the behest of reinsurers. The in...
NZ business confidence falls in May for first time in 7 months, National Bank says
By Hannah Lynch May 31 (BusinessDesk) - New Zealand business confidence fell for the first time in seven months amid increased uncertainty about the global economy as Europe's debt crisis spreads, according to the National Bank Business Outlook. A net 27.1 percent of surveyed...
SFO lays 28 charges against former Herbert Insurance boss
May 31 (BusinessDesk) - The Serious Fraud Office has laid 28 charges against former Herbert Insurance Group boss Grant Herbert, alleging he used client funds to finance his lifestyle. The failed insurance broker's former owner and director, Herbert, appeared in the Auckland Di...
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