Financial strength rating & Solvency
Financial strength rating
Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories. Full details of the rating scale are available at www.standardandpoors.com. Standard & Poor’s is an approved rating agency under the Insurance (Prudential Supervision) Act 2010.
As a licensed insurer, Southern Cross Pet Insurance Limited is required by the Solvency Standard for Non-life Insurance Business ("the Solvency Standard") issued by the Reserve Bank of New Zealand ("RBNZ"), to retain a positive solvency margin, meaning that the actual solvency capital position exceeds the minimum required under the Solvency Standard. The following solvency information is required to be disclosed in compliance with the Solvency Standard as issued by the RBNZ.
Southern Cross Pet Insurance Limited has complied with RBNZ imposed capital requirements for the six months ended 31 December 2021 (30 June 2021: In compliance).