Cigna Life Insurance New Zealand Limited ("Cigna")
Cigna Life Insurance New Zealand Limited has an A (Excellent) financial strength rating given by A.M. Best Company Inc. A summary of the rating scale is: A++, A+ Superior | A, A- Excellent | B++, B+ Good | B, BFair | C++, C+ Marginal | C, C- Weak | D Poor | E Under Regulatory Supervision | F In Liquidation | S Suspended. The full rating scale is available from A.M. Best (PDF 150kb).
Vero has been given an A+ Insurer Financial Strength Rating by Standard and Poor’s. The rating outlook is stable. The rating scale is: AAA Extremely Strong; AA Very Strong; A Strong; BBB Good; BB Marginal; B Weak; CCC Very Weak; CC Extremely Weak; SD Selective Default; D Default; R Regulatory Supervision and NR Not rated. 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. The rating scale above is in summary form. The full version of this rating scale can be obtained from Vero’s website.
Financial strength rating and overseas policyholder preference disclosure notice
The Hollard Insurance Company Pty Ltd has a financial strength rating of A- (Excellent) issued by A.M.Best Company Inc. The rating scale* in summary form is: A++, A+ (Superior); A, A- (Excellent); B++, B+ (Good); B, B- (Fair); C++, C+ (Marginal); C, C- (Weak); D (Poor); E (Under Regulatory Supervision); F (In Liquidation); S (Suspended). Plus (+) or minus (-): Ratings from "AA" to "CCC" may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.
An overseas policyholder preference applies. Under Australian law, if The Hollard Insurance Company Pty Ltd is wound up, its assets in Australia must be applied to its Australian liabilities before they can be applied to overseas liabilities. To this extent, New Zealand policyholders may not be able to rely on The Hollard Insurance Company Pty Ltd's Australian assets to satisfy New Zealand liabilities.