NZI expansion
PA Wellington The New Zealand Reinsurance Company, Ltd, (NZ Re), a wholly-owned subsidiary of NZI Corp, Ltd, has rached agreement in principle to acquire a majority interest in the Hong Kong Reinsurance and General Insurance Co., Ltd, (Hong Kong Re). Hong Kong Re is a wholly-owned subsidiary of Gilman and Company, Ltd, of Hong Kong, which in turn
is a wholly-owned subsidiary of Inchcape, Pic. Mr R. C. Tucker, deputy chairman of NZ Re, said that the acquisition would complete the establishment of NZ Re’s international operations. “Together with the re-cently-purchased East Point Re — also based in Hong Kong — the purchase will provide a strong platform . for future development,” he said.
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Press, 14 December 1985, Page 22
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113NZI expansion Press, 14 December 1985, Page 22
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