INSURER STRENGTH RATINGS
Best’s Financial Strength Ratings
NEW ZEALAND
RATING
COMPOSITE Quest Insurance Group Limited
B/STABLE
LIFE, ANNUITY AND ACCIDENT American Income Life Insurance Company (New Zealand Branch)
The following is a list of AM Best Financial Strength Ratings (FSRs) assigned to insurance companies in Australia and New Zealand. Ratings as at 24 November 2025 . Contact: Mr. Rob Curtis Co-CEO & Managing Director A. M. Best Asia-Pacific (Singapore) Pte Ltd. Tel: +65 9633 6118 Email: rob.curtis@ambest.com
A/STABLE
Chubb Life Insurance New Zealand Limited
A/STABLE
Co-operative Life Limited
B++/STABLE
DPL Insurance Limited
B++/STABLE
Fidelity Life Assurance Company Limited
A-/STABLE
General Reinsurance Life Australia Ltd. (New Zealand Branch)
A++/STABLE
AUSTRALIA
RATING
Momentum Life Limited
B u*/NEGATIVE
LIFE, ANNUITY AND ACCIDENT General Reinsurance Life Australia Ltd.
Partners Life Limited
A/STABLE
A++/STABLE
Pinnacle Life Limited
B+/STABLE
PROPERTY/CASUALTY Ansvar Insurance Limited
PROPERTY/CASUALTY Aioi Nissay Dowa Insurance Company, Limited (New Zealand Branch)
A-/STABLE
A+/STABLE
First American Title Insurance Company of Australia Pty Limited
A/STABLE
Beneficial Insurance Limited
B++/STABLE
General Reinsurance Australia Ltd.
A++/STABLE
First American Title Insurance Company of Australia Pty Limited (New Zealand Branch)
A/STABLE
Guild Insurance Limited
A-/STABLE
FMG Insurance Limited
A/STABLE
Pacific International Insurance Pty Limited
B++/STABLE
General Reinsurance Australia Ltd. (New Zealand Branch)
The New India Assurance Company Limited (Australia Branch)
A++/STABLE
B++/STABLE
Mitsui Sumitomo Insurance Company Limited (New Zealand Branch)
A+/STABLE
Rating Disclosure: Use and Limitations: A Best’s Credit Rating (BCR) is a forward- looking independent and objective opinion regarding an insurer’s, issuer’s, or financial obligation’s relative creditworthiness. The opinion represents a comprehensive analysis consisting of a quantitative and qualitative evaluation of balance sheet strength, operating performance and business profile or, where appropriate, the specific nature and details of a security. Because a BCR is a forward-looking opinion as of the date it is released, it cannot be considered as a fact or guarantee of future credit quality and therefore cannot be described as accurate or inaccurate. A BCR is a relative measure of risk that implies credit quality and is assigned using a scale with a defined population of categories and notches. Entities or obligations assigned the same BCR symbol developed using the same scale, should not be viewed as completely identical in terms of credit quality. Alternatively, they are alike in category (or notches within a category), but given there is a prescribed progression of categories (and notches) used in assigning the ratings of a much larger population of entities or obligations, the categories (notches) cannot mirror the precise subtleties of risk that are inherent within similarly rated entities or obligations. While a BCR reflects the opinion of A.M. Best Rating Services, Inc. (AMBRS) of relative creditworthiness, it is not an indicator or predictor of defined impairment or default probability with respect to any specific insurer, issuer, or financial obligation. A BCR is not investment advice, nor should it be construed as a consulting or advisory service, as such; it is not intended to be utilised as a recommendation to purchase, hold or terminate any insurance policy, contract, security, or any other financial obligation, nor does it address the suitability of any particular policy or contract for a specific purpose or purchaser. Users of a BCR should not rely on it in making any investment decision; however, if used, the BCR must be considered as only one factor. Users must make their own evaluation of each investment decision. A BCR opinion is provided on an “as is” basis without any expressed or implied warranty. In addition, a BCR may be changed, suspended, or withdrawn at any time for any reason at the sole discretion of AMBRS. *Denotes FSR is under review with developing implications.
New Zealand Medical Indemnity Insurance Limited
B+/STABLE
Pacific International Insurance Pty Ltd (New Zealand Branch)
B++/STABLE
PPS Mutual Limited
B+/STABLE
Police Health Plan Limited
A-/NEGATIVE
Provident Insurance Corporation Limited
B+/STABLE
The New India Assurance Company Limited (New Zealand Branch)
B++/STABLE
Tokio Marine & Nichido Fire Insurance Company Limited (New Zealand Branch)
A++/STABLE
Tower Limited
A-/STABLE
Union Medical Benefits Society Limited A/NEGATIVE Veterinary Professional Insurance Society Incorporated B/STABLE Virginia Surety Company, Inc. (New Zealand Branch) A+/STABLE
74 / INSURANCE ADVISER DECEMBER 2025
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