Financial Strength Rating
The Insurance (Prudential Supervision) Act 2010 requires licensed insurers to have a current financial strength rating that is given by an approved rating agency. AIG Insurance New Zealand Limited has an A+ (Strong) insurer financial strength rating given by Standard & Poor’s (Australia) Pty Ltd. The rating scale, in summary form is:
AAA
| Extremely Strong
| BBB
| Good
| CCC
| Very Weak
| SD
| Selective Default
|
AA
| Very Strong
| BB
| Marginal
| CC
| Extremely Weak
| D
| Default
|
A
| Strong
| B
| Weak
| R
| Regulatory Action
| NR
| Not rated
|
The rating 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. A full description of the rating scale is available on Standard & Poor’s website.
