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 2019 as follows:


$m
Actual Solvency Capital 626.2
Minimum Solvency Capital 383.5
Solvency Margin 242.7
Solvency Ratio 163.3%

Financial Rating

Lumley is a business division of IAG New Zealand Limited (IAG). 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 in the scale below. 

The rating scale is:

AAA (Extremely Strong) 
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)

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.