Solvency margin

As a licensed insurer, Accuro Health Insurance Society Limited are required by the Interim Solvency Standard Amendment Standard 2023 (ISS) issued by the Reserve Bank of New Zealand (RBNZ) to retain a positive solvency margin, meaning that the solvency capital exceeds the prescribed capital requirement under the ISS.

The following solvency information as at 30 November 2023 is required to be disclosed in compliance with the ISS as issued by the RBNZ.

Solvency capital $32,072k

Adjusted prescribed capital requirement $28,421k

Adjusted solvency margin $3,650k

Adjusted solvency ratio 113%

Strength rating

The Insurance (Prudential Supervision) Act 2010 requires all licensed insurers to have a current financial strength rating (FSR) provided by an approved rating agency. This rating indicates whether we can meet our financial obligations, such as pay your claims.

We use A.M. Best as a rating agency, who have rated our financial strength rating at B (fair).

For a more detailed breakdown of A.M. Best’s FSR, download their guide.