IAG New Zealand has bought half the shares in Mike Henry Travel Insurance, despite getting a clearance from the NZ Commerce Commission to acquire the entire operation.

It’s a decision that has obviously pleased Mike Henry MD Steve Nichols, who says it will be business as usual, with no change in the company management.

“Travel agents will continue to enjoy the same level of service we’ve delivered since our inception 21 years ago,” he said. “We’ll continue to pursue initiatives… which add value to the travel industry and its client.”

The Mike Henry brand will be retained and a new board formed. It will include Mike Henry and Mr Nichols and two IAG NZ representatives.