Sovereign scores another A+ for financial strength

Sovereign scores another A+ for financial strength

For the seventh year running, Sovereign has been awarded an A+ (Superior) financial strength rating by international credit ratings agency, A.M. Best Company Inc.
Sovereign is the only New Zealand-based life insurer to hold an AM Best A+ rating.

Symon-Brewis Weston, Sovereign Chief Executive Officer says the company’s seven consecutive A+ ratings affirm Sovereign’s commitment to sound risk management and financial stability.

“We are really proud of our continued A+ rating. Insurance is often a long term proposition – advisers and customers should trust that their provider will be there when they need them.

“Not only does our A+ rating confirm Sovereign’s position as New Zealand’s highest-rated life insurance company, it gives added peace of mind to both advisers and customers that we will be there to honour our commitments at claim time.”

In announcing the rating A.M. Best said: “The rating reflects Sovereign’s strong business profile, supportive risk-adjusted capitalization, and financial flexibility”.

The rating, which was awarded at the end of last year, reflects A.M. Best’s independent assessment of Sovereign’s superior ability to meet its ongoing insurance obligations.

A.M. Best said that Sovereign “continues to be a market leader in the New Zealand life insurance market”.

The agency considers the rating “stable”.

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

ENDS

© Scoop Media