Financial strength rating

AA-

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*

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)

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 2018 IAG New Zealand Limited had the following solvency margin:

Actual Solvency Capital

$ MILLIONS

594.1

Minimum Solvency Capital

$ MILLIONS

377.1

Solvency Margin

$ MILLIONS

217.0

Solvency Ratio

%

157.6

QFE disclosure statement

It is important that you read this information: It is general information that will help you to compare financial advisers and choose the one that best suits your needs.

IAG is a Qualifying Financial Entity ('QFE') under the provisions of the Financial Advisers Act 2008. You can check this information on the Financial Service Providers Register at fspr.govt.nz.

As a QFE, IAG is licensed to take responsibility for its advisers and to ensure that they exercise due care, diligence and skill when providing financial advice to you. Our QFE licence means that IAG’s QFE advisers do not have to be individually registered or authorised. IAG’s QFE advisers can provide personalised advice about general insurance and warranty products.

IAG is licensed and regulated by the Financial Markets Authority (FMA). You can obtain information about financial advisers from the FMA. You may also report information to the FMA about IAG and its financial advisers at:
 

Phone:
(04) 472 9830
Web:
www.fma.govt.nz
Physical:
Level 2, 1 Grey Street, Wellington
Postal:
PO Box 1179, Wellington 6140

Governance