AMI 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:
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.
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 2017 as follows:
|Life $M||Non-Life $M||Total $M|
|Actual Solvency Capital||0.1||608.6||608.7|
|Minimum Solvency Capital||0.1||334.6||334.7|
|Actual Solvency Capital|
|Minimum Solvency Capital|
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