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A.M Best Affirms Credit Ratings Of BNZ Life Insurance
Last update: 06/03/2018

KUALA LUMPUR, March 6 (Bernama) -- †A.M. Best has affirmed the financial strength rating of 'A' (excellent) and the long-term issuer credit rating of 'a' of BNZ Life Insurance Ltd (BNZ Life) New Zealand and†the outlook of the ratings is stable.

A.M Best, in a statement said the ratings reflected BNZ Life's balance sheet strength, which was†categorised as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.

BNZ Life's balance sheet strength is supported by risk-adjusted capitalisation, maintained at the strongest level, as measured by Best's Capital Adequacy Ratio.

Despite a high dividend payout ratio, BNZ Life has a favourable level of liquid assets to meet its contractual obligations, supplemented by positive operating cash flows.

The company's regulatory solvency margin is modest compared with other New Zealand life insurers.

A.M. Best expects BNZ Life's prospective operating performance to be strong with low volatility, supported by steady revenue growth, adequate product pricing and a stable stream of investment income.

BNZ Life, which is an affiliated company of Bank of New Zealand Limited, is a small to medium-sized insurer in the New Zealand life insurance industry that writes mainly term life, income protection, permanent disability and terminal illness insurance.

-- BERNAMA


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