New Zealand’s Prime Minister John Key said on Monday that he had received a “surprise” from a company that he would not name for fear of compromising national security.
Key said a company named M&G Energy Services had been offering “protection and recovery” to New Zealanders in the event of a quake that struck the country’s north-west.
“I received a surprise from M&S on Tuesday that they had contacted us and that they wanted to talk about earthquake protection,” Key told reporters after a meeting with industry representatives.
“They’re looking at some of the best protection and recovery in the world.”
They’ve done a really good job with earthquakes, and they want to be part of this.
“Key was joined by the countrys top three cabinet ministers, including Finance Minister Steven Joyce, the minister responsible for economic policy.
He said the earthquake insurance industry was “well placed to protect our citizens, particularly in this time of heightened concern”.
M&G, based in Auckland, is a subsidiary of M&C Saatchi & Adelman, which is in the process of purchasing M&P Financial Services and M&Gs Home Services group.”
It’s well positioned.”
M&G, based in Auckland, is a subsidiary of M&C Saatchi & Adelman, which is in the process of purchasing M&P Financial Services and M&Gs Home Services group.
The company has a track record of providing earthquake insurance, having received a total of $4.8 billion in insurance coverage between 2000 and 2014.
M&Gs is currently engaged in “high-risk” earthquake coverage, including covering a number of quake-related disasters including the earthquake that killed more than 1,100 people in Chile in March of that year.
The earthquake hit in the early hours of Monday morning, prompting the Ministry of Business, Innovation and Employment to issue a mandatory evacuation order for the New Zealand capital.
The quake struck near the city of Kaikoura, near the epicentre of a massive earthquake earlier in the day.