NZers have 'little to fear' from AIG situation

A finance commentator feels New Zealanders will have little to fear from the possible collapse of insurance giant AIG.

It is in a race against the clock to find a multi-billion-dollar infusion in order to stay afloat.

Commentator Richard Newell from Global Fund Services believes the problems are specific to AIG's American business, and he is expecting things to be sorted out quickly. He says if the American company does collapse, it is more than likely the New Zealand subsidiary will be bought by another insurer here.

AIG New Zealand employs more than 90 people based in offices in Auckland and Wellington.

- NEWSTALK ZB