Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
AM Best withdraws credit ratings of AIA New Zealand
Last update: 03/09/2019

KUALA LUMPUR, Sept 3 -- AM Best has affirmed the Financial Strength Rating of A+ (superior) and the Long-Term Issuer Credit Rating of ‘aa-’ of AIA New Zealand Limited (AIA New Zealand).

The company was formerly known as Sovereign Assurance Company Limited, according to a statement.

Concurrently, AM Best has withdrawn these ratings as the company has requested to no longer participate in AM Best’s interactive rating process.

The ratings reflect AIA New Zealand’s balance sheet strength, which AM Best categorised as very strong, as well as its strong operating performance, favourable business profile and appropriate enterprise risk management.

AIA New Zealand also benefited from rating enhancement from its ultimate parent, AIA Group Limited (AIA).

The company has a track record of strong operating performance, with a five-year average return-on-equity ratio of 15 per cent (fiscal years 2014 to 2018). AM Best continues to view AIA New Zealand’s business profile as favourable.

It remains the largest life insurer in New Zealand, with its market share exceeding 25 per cent. Its ratings incorporate rating enhancement from AIA, one of the world’s largest life insurance groups.

AM Best is a global rating agency and information provider with unique focus on the insurance industry. More information at www.ambest.com.

-- BERNAMA


 <Back>


 


 

OPENING, TUESDAY, MAR 9
US4.1180/1230
S'pore3.0479/0520
100 Yen3.7752/7805
Sterling5.6882/6967
Euro4.8769/8833
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
Yes
No
Not sure
 
  Main | News | Insurance

© 2024 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution