Solvency margin

Solvency margin is the amount of capital we have above the minimum level we have to hold under our solvency standard.

Our solvency margin is $5,534,073. This is the difference after our minimum solvency standard of $3,000,000 is subtracted from our actual solvency capital of $8,534,073 (August 2019). This means we have an impressive solvency ratio of 285% percent.

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+ (stable outlook). This means, in their opinion, we have a good ability to meet our ongoing insurance obligations. For a more detailed breakdown of A.M. Best’s FSR, download their guide.

Am Best Financial Strength Rating Guide

What our financial strength means for you

Our B+ (stable outlook) strength rating and large solvency margin mean we’re financially secure. You can have confidence in our ability to meet our financial obligations and pay your claims.