The American insurance and financial services giant has sponsored NZR's national teams since 2012 and signed a six-year renewal in 2016, with local media reporting the agreements were worth US$10 million to $20 million a year.
"We have enjoyed a hugely successful and mutually beneficial commercial partnership that has helped both AIG and NZR to strengthen our respective brands on the world stage," NZR Chief Executive Mark Robinson said in a statement. They announced a NZ$1.9 million loss for their last financial year in 2018 and while they had strong net assets, Chairman Brent Impey at its annual general meeting in April said future projections showed a"challenging" environment.
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