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

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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