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 2021 as follows:
|
$m |
| Actual Solvency Capital | 578.7 |
| Minimum Solvency Capital | 351.5 |
| Solvency Margin | 227.2 |
| Solvency Ratio | 164.6% |
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.