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FOR IMMEDIATE RELEASE
SINGAPORE - OCTOBER 04, 2017 10:27 AM (EDT)
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of nib nz limited (nib nz) (New Zealand). The outlook of these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has withdrawn the ratings as the company has requested to no longer participate in A.M. Best’s interactive rating process.
The ratings reflect nib nz’s strong risk-adjusted capitalization and continued favorable operating performance. The company’s strong risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is due to its low product risk profile, conservative investment mix and favorable liquidity position. In addition, nib nz has a good performance track record, with an average operating ratio of approximately 91% over the past five years.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
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