Financial strength rating and solvency margin

IAG New Zealand Limited

Financial strength rating

IAG New Zealand Limited (IAG) has received a financial strength rating of AA- from Standard & Poor's (Australia) Pty Ltd, an approved rating agency.

A rating of AA- means IAG has a 'very strong' claims-paying ability, as you can see on the scale below.

The rating scale is:
AAA (Extremely Strong)
AA (Very Strong)
A (Strong)
BBB (Good)
BB (Marginal)
B (Weak)
CCC (Very Weak)
CC (Extremely weak)
SD​ (Selective Default)​
D​ (Default)​
R​ (Regulatory Supervision)​
NR​ (Not Rated)​

The ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or
minus (-) sign to show relative standing within the major rating categories.

The rating scale above is in summary form. A full description of this rating scale can be obtained from www.standardandpoors.com.

Solvency margin

In its Annual Solvency Return filed with the Reserve Bank of New Zealand, IAG New Zealand Limited had a Solvency Margin as at 30 June 2018 as follows:

Life $m​ Non-life $m​ Total $m​
Actual Solvency Capital 0.1 556.4 556.5
Minimum Solvency Capital 0.1 337.1 ​337.2
​Solvency Margin 0.0 219.3 219.3
Solvency Ratio 121.8% 165.1% 165.1%

 

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