Insurer Financial Strength Ratings
The Insurance (Prudential Supervision) Act 2010 requires licensed insurers to have a current financial strength rating that is given by an approved rating agency.
Vero Insurance New Zealand Limited has been given an A+ insurer financial strength rating by Standard & Poor’s. The rating outlook is stable.
The Financial Strength Rating Scale is:
| 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 |
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. The full version of this rating scale can be obtained from www.vero.co.nz
The Insurance (Prudential Supervision) Act 2010 requires licensed insurers to have a current financial strength rating that is given by an approved rating agency.
AIA New Zealand Limited (Sovereign*) has an AA (Very Strong) insurer financial strength rating by Fitch Ratings.
*In August 2019 Sovereign changed their name to AIA New Zealand Limited.
Fitch Rating Scale:
For more information on Financial Strength Ratings or Fitch Ratings, go to www.fitchratings.com
| AAA | (Exceptionally Strong) |
| AA | (Very Strong) |
| A | (Strong) |
| BBB | (Good) |
| BB | (Moderately Weak) |
| B | (Weak) |
| CCC | (Very Weak) |
| CC | (Extremely Weak) |
| C | (Distressed) |
