A.M. Best Affirms Ratings of Kiwi Insurance Limited

SINGAPORE--(BUSINESS WIRE)-- A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Kiwi Insurance Limited (Kiwi) (New Zealand). The outlook for both ratings is stable.

The affirmations reflect Kiwi's strong risk-adjusted capitalization, positive operating earnings and low product risk profile. As a member of the New Zealand Post Limited group of companies, Kiwi also benefits from access to its affiliates’ nationwide store network, which supports distribution and branding.

Offsetting rating factors include the relatively small scale of Kiwi’s in-force portfolio, which exposes it to potential higher claims volatility, as well as the less favorable experience in recent years, primarily due to higher expenses incurred as the company transitions to be a self-supporting bancassurer.

Kiwi is well-positioned at its current rating level. Factors that could lead to negative rating actions include operating losses or material deterioration of actual solvency capital.

Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to rating(s) 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 visit A.M. Best’s Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150916005885/en/

A.M. Best Company, Inc.
Larina Huang, +65-6589-8400, ext. 218
Associate Financial Analyst
[email protected]
or
Jason Shum, +65-6589-8400, ext. 217
Financial Analyst
[email protected]
or
Christopher Sharkey, +(1) 908 439 2200, ext. 5159
Manager, Public Relations
[email protected]
or
Jim Peavy, +(1) 908 439 2200, ext. 5644
Assistant Vice President, Public Relations
[email protected]

Source: A.M. Best Company, Inc.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Is the global equity rally broadening? UBS weighs in
• She Made it – the Youngest South African Woman to Swim the Channel
• Bernstein remains bullish on SpaceX but sees challenges in telecom ambitions