AM Best maintains Momentum Life’s positive credit rating

Thursday, 7 March 2019, 10:13 am
Press Release: Momentum Life

AM Best has affirmed the Financial Strength Rating of B++ (Good) and Long-Term Credit Rating of “bbb” for Momentum Life Limited.

Momentum Life, a licensed and trusted direct-to-consumer life insurer in New Zealand, will maintain it’s Financial Strength and Long-Term Credit Ratings from AM Best. These ratings of B++ (Good) and “bbb”, respectively, reflect the insurer’s balance sheet strength as it continues to grow in 2019.

AM Best is an independent credit rating agency that reports on the financial stability of insurers worldwide. Best’s Credit Ratings are a vital tool to help consumers evaluate an insurer’s ability to honour their financial obligations to policyholders.

Momentum Life received its life insurance licence on 12 March 2018, becoming the underwriter of their products sold after that date. The current ratings from AM Best are based partly on the company’s strong performance since receiving its licence.

AM Best’s decision to affirm Momentum Life’s ratings was welcomed by Chief Financial & Operating Officer Eugeniu Jalba. “We’re pleased that AM Best has affirmed our financial strength and credit ratings. These ratings are a signal to both our current and prospective customers, helping add to their peace of mind when they take out one of our policies. Customers can have confidence, knowing that Momentum Life will be there when their family needs us the most.”

This customer trust is further bolstered by Momentum Life receiving a Feefo Gold Trusted Service Award for the third year in a row in February 2019. This award is based on genuine ratings and reviews submitted by verified customers through the independent Feefo platform and reflects Momentum Life’s strong commitment to providing outstanding service to its New Zealand customers.

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About Momentum Life

Momentum Life is a licensed life insurance company, providing direct-to-consumer insurance solutions to New Zealanders. Their mission is to put customers’ needs first, by making insurance simple, accessible and affordable at every stage of life.

Momentum Life is also a proud supporter of Heart Kids, the only charity in New Zealand dedicated to providing lifelong care and support for children and families living with childhood heart defects. A portion of all Momentum Life’s first-year insurance premiums are donated to support the valuable work of Heart Kids.

To learn more please visit www.momentumlife.co.nz.

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