Financial position

AMI is a business division of IAG New Zealand Limited, which has received a financial strength rating of AA- from Standard and Poor’s (Australia) Pty Ltd.
AMI Insurance 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 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)

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. 

Solvency margin

In its half yearly Solvency Return filed with the Reserve Bank of New Zealand, IAG New Zealand Limited had a Solvency Margin as at 31 December 2016 as follows:

Life $M Non-Life $M Total $M
Actual Solvency Capital 0.1 580.1 580.2
Minimum Solvency Capital 0.1 443.9 444.0
Solvency Margin 0.0 136.2 136.2
Solvency Ratio 121.8% 130.7% 130.7%
Actual Solvency Capital
Life $M 0.1
Non-Life $M 771.8
Total $M 771.9
Minimum Solvency Capital
Life $M 0.1
Non-Life $M 525.1
Total $M 525.2
Solvency Margin
Life $M 0.0
Non-Life $M 246.7
Total $M 246.7
Solvency Ratio
Life $M 121.8%
Non-Life $M 147.0%
Total $M 147.0%

Qualifying Financial Entity (QFE) Disclosure 

AMI is part of the IAG New Zealand Limited QFE Group. IAG New Zealand Limited is a Qualifying Financial Entity under the provisions of the Financial Advisers Act 2008.

Qualifying Financial Entity (QFE) Disclosure