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

FOR IMMEDIATE RELEASE

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.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Forest And Bird: Misinformation Circulating On Biodiversity Policy

Forest & Bird is concerned at misinformation circulating regarding a policy statement aimed at protecting New Zealand’s unique biodiversity. The National Policy Statement for Indigenous Biodiversity is being consulted on by the ... More>>

ALSO:

NIWA: Scientists Say Methane Emitted By Humans ‘vastly Underestimated’

NIWA researchers have helped unlock information trapped in ancient air samples from Greenland and Antarctica that shows the amount of methane humans are emitting into the atmosphere from fossil fuels has been vastly underestimated... More>>

ALSO:

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:



Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:

Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

NZ First: Launch Of Parliament Petition To Remove Aluminium Dross

This afternoon to a crowd of over 100 people in Mataura -- Mark Patterson, New Zealand First List MP based in Clutha-Southland launched a parliamentary petition regarding the aluminium dross issue in Mataura, Southland. The petition asks that the House ... More>>

ALSO: