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 https://www.spglobal.com/ratings/en/about/intro-to-credit-ratings. 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 December 2023 is required to be disclosed in compliance with the ISS as issued by the RBNZ.