Financial strength rating & Solvency

Financial strength rating


Southern Cross Pet Insurance Limited has an A (Strong) financial strength rating given by Standard & Poor’s (Australia) Pty Limited. A rating of 'A' means Southern Cross Pet Insurance Limited has a ‘strong’ claims-paying ability.

The rating scale is:

AAA (Extremely Strong) AA (Very Strong) A (Strong)
BBB (Good) BB (Marginal) B (Weak)
CCC (Very Weak) CC (Extremely Weak) SD or D (Selective Default or Default)

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 Standard & Poor’s is an approved rating agency under the Insurance (Prudential Supervision) Act 2010.

Solvency margin

As a licensed insurer, Southern Cross Pet Insurance Limited is required by the Interim Solvency Standard Amendment Standard 2023 ("the ISS") issued by the Reserve Bank of New Zealand (“RBNZ”), to retain a positive solvency margin, meaning that the solvency capital exceeds the prescribed capital requirement under the ISS.

The following solvency information as at 31 March 2024 is required to be disclosed in compliance with ISS as issued by RBNZ.

Solvency capital
Adjusted prescribed capital requirement
Adjusted solvency margin
Adjusted solvency ratio

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