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)
R (Regulatory Supervision) NR (Not Rated)

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 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.

Minimum solvency capital
Actual solvency capital
Solvency margin
Solvency ratio

Southern Cross Pet Insurance Limited has complied with RBNZ imposed capital requirements for the year ended 30 June 2023.

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