Liquidators have been appointed to a small Queenstown-based insurance company with around 150 claims relating to earthquakes in Christchurch.
David Ruscoe and Simon Thorn, of Grant Thornton New Zealand, were appointed liquidators on Friday after directors of Western Pacific became concerned about the solvency of their company.
Mr Ruscoe said checks were being made that all insurance policies were in place and valid and that all reinsurance contracts were in order.
Western Pacific is a New Zealand-owned and operated insurance company. It was established in April 2005 and is principally a broker brand that offers a broad range of commercial, domestic and specialty products as well as programmes for affinity groups, underwriting agents and preferred brokers.
Western Pacific offers security for some products offered through Dominion Underwriting in Australia