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Our Financial Rating

We’re pleased to announce that we have earned an A (Excellent) financial strength rating from A.M. Best Company Inc, an insurance rating provider.

Please visit www.ambest.com for more information.

The rating AM Best rating scale is:

Secure

Vulnerable

A++

A+

Superior

B

B-

Fair

A

A-

Excellent

C++

C+

Marginal

B++

B+

Good

C

C-

Weak

D

Poor

E

Under regulatory Supervision

F

In Liquidation

S

Suspended

Solvency Standard

All licensed insurance companies must meet the requirements of the solvency standards for insurance business as set by the Reserve Bank of New Zealand. These solvency standards state that we must hold a minimum amount of solvency capital, so that we are in a position to pay claims to our customers during unexpected events (such as earthquakes or pandemics).

Our Solvency Margin

The Solvency Margin of Cigna NZ as at 30 June 2020 is $116.8m. The table below shows how the Solvency Margin is made up:

Statutory Fund $000’s

Shareholder Fund $000’s

Aggregate for Cigna NZ $000’s

Actual Solvency Capital

729,932

11,602

741,534

Minimum Solvency Capital

621,325

3,444

624,769

Solvency Margin

108,607

8,158

116,765

Solvency Ratio

117%

337%

119%

The Actual Solvency Capital and the Minimum Solvency Capital are determined according to the solvency standards issued by the Reserve Bank of New Zealand.

Solvency Margin is the difference between the Actual Solvency Capital and Minimum Solvency Capital. Solvency Ratio is the Actual Solvency Capital divided by the Minimum Solvency Capital, expressed as a percentage.

Statutory Fund Notification

Cigna is required under the Insurance (Prudential Supervision) Act 2010 to establish a Statutory Fund. For all Cigna NZ's life insurance policyholders, we advise that the Statutory Fund relevant to your policies is Cigna NZ's Statutory Fund Number One.