A.M. Best Affirms Ratings of nib nz limited
A.M. Best Company
Jason Shum, +852-2827-3430
Chi-Yeung Lok, +852-2827-3414
Senior Financial Analyst
Christopher Sharkey, +(1) 908-439-2200, ext. 5159
Manager, Public Relations
Jim Peavy, +(1) 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of nib nz limited (nib nz) (New Zealand). The outlook for both ratings is stable.
The rating affirmations reflect nib nz’s strong balance sheet, stable and favorable operating performance, and strong liquidity position.
Offsetting these positive rating factors is the company’s growing underwriting leverage, which is generally higher than its peers.
nib nz is well positioned for the current ratings. Negative rating actions may occur if incorrect underwriting decisions and inadequate product pricing lead to underwriting losses, or there is a deviation from the capital management plan communicated to A.M. Best.
The methodology used in determining these interactive ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.
This rating announcement has been issued by A.M. Best Asia-Pacific Limited, which is a subsidiary of A.M. Best Company. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
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