Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Sovereign Retains A+ (Superior) Financial Strength Rating


21 December, 2016

Sovereign Retains A+ (Superior) Financial Strength Rating

New Zealanders can continue to count on Sovereign Insurance in life’s moments of truth after international credit ratings agency A.M. Best announced the company will retain its financial strength rating of A+ (Superior) for the ninth consecutive year.

Sovereign believes New Zealanders should care about this because the financial strength rating is an assessment of its ability to meet obligations to policyholders. In the last year, Sovereign paid out more life insurance claims than any other New Zealand insurance provider.

Sovereign’s Chief Executive Officer, Nick Stanhope, says the announcement is good news for advisers, customers and those in the market to purchase life and health insurance.

“We are really proud of our continued A+ rating and it just goes to show you can trust us. Sovereign’s passion for service excellence, coupled with our financial strength, makes us one of New Zealand’s leading financial service providers. So, even when the times are tough, you can depend on Sovereign,” Stanhope says.

In announcing the rating, A.M. Best reports that “Sovereign’s rating reflects its strong risk-adjusted capitalization, good operating performance and favourable business profile.” In addition, it says “Sovereign has competitive advantages in distribution”.

Sovereign is part of the Commonwealth Bank of Australia (CBA) Group, one of only 12 banks worldwide with an AA- rating or better from Standard & Poor’s.

Founded in 1899, A.M. Best is the world’s oldest and most authoritative insurance rating and information source.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Non-Giant Fossil Disoveries: Scientists Discover One Of World’s Oldest Bird Species

At 62 million-years-old, the newly-discovered Protodontopteryx ruthae, is one of the oldest named bird species in the world. It lived in New Zealand soon after the dinosaurs died out. More>>

Rural Employers Keen, Migrants Iffy: Employment Visa Changes Announced

“We are committed to ensuring that businesses are able to get the workers they need to fill critical skills shortages, while encouraging employers and regions to work together on long term workforce planning including supporting New Zealanders with the training they need to fill the gaps,” says Iain Lees-Galloway. More>>


Marsden Pipeline Rupture: Report Calls For Supply Improvements, Backs Digger Blame

The report makes several recommendations on how the sector can better prevent, prepare for, respond to, and recover from an incident. In particular, we consider it essential that government and industry work together to put in place and regularly practise sector-wide response plans, to improve the response to any future incident… More>>


Oil Scare: Trump Authorises Use Of Emergency Crude Stockpile

The New Zealand dollar fell against the US dollar after President Donald Trump authorised the use of the country's emergency crude stockpile after the weekend attack on Saudi Arabia’s major oil facilities. More>>