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 2017 as follows:

Life
$m
Non-Life
$m
Total
$m
Actual Solvency Capital 0.1 631.2 631.3
Minimum Solvency Capital 0.1 359.2 359.3
Solvency Margin 0.0 272.0 272.0
Solvency Ratio 121.8% 175.7% 175.7%

Financial Rating

IAG New Zealand Limited received a Standard & Poor's (Australia) Pty Ltd financial strength rating of AA-.This means we have a ‘Very Strong' claims paying ability, as you can see in the scale below. As a customer, this is important to you as it's your reassurance that we will be able to pay your claims now and in the future.

The Standard & Poor's rating scale is:

AA Very Strong
A Strong
BBB Good
BB Marginal
CCC Very Weak
CC Extremely Weak
SD Selective Default
D Default
R Regulatory Supervision
NR Not Rated

(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.