Financial strength rating


We know that the most important thing for our customers is knowing that we have the financial strength to be able to pay their claims.   

Independent ratings agency Standard & Poor’s undertakes a regular assessment of our business to provide an overall financial strength rating. 

IAG New Zealand Limited (IAG) has received a financial strength rating of AA- from Standard & Poor's (Australia) Pty Limited, an approved rating agency. A rating of AA- means IAG has a 'very strong' claims-paying ability.

Standard and Poor's Long Term Insurer Financial Strength Rating Scale*

(Extremely Strong)
(Very Strong)
(Very Weak)
(Extremely Weak)
(Selective Default)
(Regulatory Supervision)
(Not Rated)

Solvency margin

Our half-yearly solvency return lodged with the Reserve Bank of New Zealand further illustrates our ability to pay our customers' claims.  It showed that as at 31 December 2020 IAG New Zealand Limited had the following solvency margin:

Actual Solvency Capital



Minimum Solvency Capital



Solvency Margin



Solvency Ratio



Financial Advice Disclosure 

Please take a few moments to read this important information.


Licensing and nature and scope of financial advice

IAG New Zealand Limited (IAG/we) has been granted a Financial Advice Provider (FAP) licence by the Financial Markets Authority to provide financial advice. Advice will only be given about fire and general insurance products underwritten by IAG.


Duties information

IAG employs Nominated Representatives who are authorised to provide financial advice on its behalf. IAG and its Nominated Representatives are bound by duties under the Financial Markets Conduct Act 2013 relating to the way financial advice is given.

That means we are required to exercise care, diligence and skill and give priority to your interests when providing financial advice. We also need to meet applicable standards of ethical behaviour, conduct, client care, competence, knowledge and skill under the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should, and give you suitable advice). You can learn more about the Code by going to and searching for ‘financial advice’.


 Fees, commissions and other incentives

We do not pay any commissions or other sales incentives to our Nominated Representatives. If you receive financial advice from us you will not pay any fees, expenses or other amounts in relation to the receipt of that financial advice, regardless of whether you proceed with purchasing any IAG products or not.

IAG has relationships with banking services providers to provide insurance policies to their customers. If you purchase an insurance product underwritten by IAG from one of these banks, IAG pays the bank commissions and other fees for its services.

The banks are:

- ASB Bank


- Southsure

- The Cooperative Bank

- Westpac


IAG pays commissions and other amounts to brokers and other insurance intermediaries who place business through NZI or Lumley (intermediated brands underwritten by IAG).  Brokers and intermediaries who provide regulated financial advice to their customers must hold their own Financial Advice Provider (FAP) licence or operate as an authorised person under another entity’s FAP licence. When they provide financial advice, they are required to disclose any fees payable for that advice and any commissions or other incentives received in connection with the advice.


Internal complaints procedures and external dispute resolution

We understand that things don’t always go to plan and there may be times when you feel we’ve let you down. If this happens, we want you to tell us. We’ll do our best to put things right as soon as possible or explain something we could have made clearer.


What you can expect to happen

Step 1: Let us know what your concerns are. Contact us directly by phone, email or writing a letter. We’ll acknowledge your complaint within five business days.

Step 2: If we’re unable to come to a resolution together, you’ll be referred to a manager. Our aim is to investigate and resolve your complaint within two weeks. If this is not possible, we'll advise you of progress within 10 business days.

Step 3: If after working with a manager, we haven’t been able to make it right, we’ll escalate your case to a Complaints Resolution Officer to review.

Step 4: If we are unable to resolve your complaint, we’ll advise you in writing. You can choose to refer the matter to the Insurance & Financial Services Ombudsman (IFSO) Scheme.

IFSO is a completely independent authority that will carry out an impartial investigation. Find out more about the IFSO by visiting