18 January 2006

PGG Wrightson and Aon New Zealand announced today that they have agreed to extend their insurance broking partnership by incorporating the former Pyne Gould Guinness insurance broking business.

This approach reflects a move taken by Wrightson in 2004, when its insurance business was sold to, and a partnership formed with Aon New Zealand.

The insurance broking business will operate under the PGG Wrightson Aon brand, with underwriting provided by Vero. It will continue to service existing customers, and expands the services available through the PGG Wrightson rural servicing network.

Chief Executive Officer of PGG Wrightson, Mr Barry Brook, said that insurance broking remains a vital and important component of the total offering to PGG Wrightson clients. “Aon, as the largest New Zealand insurance broker, is well placed to help provide our clients with enhanced products and services.  The extension of this partnership is a positive development for both our clients and the insurance business, as well as maintaining an important and long standing relationship with Vero NZ.” 

Mr Brook added he was pleased Aon and Vero are offering employment to most PGG Wrightson insurance staff, and insurance brokers will continue to work from PGG Wrightson premises.

The Chief Executive Officer of Aon New Zealand, Mr Geoff Blampied, said the extension of the partnership provided Aon with a further opportunity to enhance its leadership position in rural and provincial markets. “We will continue to offer PGG Wrightson Aon clients with a full range of competitively-priced products, including fire & general, life, health and other insurance services.”

For further information:

Susan Harrington
PGG Wrightson Communications
0275 918 862

Barry Brook
PGG Wrightson CEO
03 341 4325

Geoff Blampied
AON New Zealand CEO
09 362 9001