Partners Life Financial Strength Rating NZ Explained
Partners Life Limited has a financial strength rating of A (Excellent) from A.M. Best, with a stable outlook, effective 5 February 2026. A.M. Best defines the rating as an independent opinion of an insurer's ability to meet its ongoing insurance obligations. It is not a recommendation to buy a policy, and it says nothing about price, service or whether a product suits you.
In short
- Partners Life's rating is A (Excellent) from A.M. Best. Partners Life's own disclosure page says it is effective 5 February 2026 with a stable outlook; its 2025 claims brochure carried an earlier date, 23 January 2025.
- Under the Insurance (Prudential Supervision) Act 2010, a licensed insurer must hold a current rating from a Reserve Bank-approved agency and tell you the rating, the agency and the scale before you buy.
- A grade is one agency's opinion, and the letter means different things at different agencies. A.M. Best's B is "Fair"; S&P's and Fitch's B is "Weak".
- Partners Life agreed on 3 September 2026 to buy Fidelity Life; the sale is subject to regulatory approval and is not expected to close before March 2027.
What the rating is
A financial strength rating is an independent opinion of an insurer's financial strength and its ability to meet its ongoing insurance policy and contract obligations. A.M. Best, the agency that rates Partners Life, says its rating "is not a recommendation to purchase, hold or terminate any insurance policy" and does not address "claims-payment policies or procedures" (A.M. Best: Guide to Best's Financial Strength Ratings). So it is a measure of balance-sheet resilience, not of how an insurer treats a claim. A life policy can last 30 years, which is why the grade matters, and why it is only one input.
Partners Life's rating and its date
Partners Life's 2025 claims brochure says: "Effective 23 January 2025, Partners Life Limited has a financial strength rating of A (Excellent) with Stable Outlook from A.M. Best, an RBNZ-approved rating agency" (Partners Life claims brochure, read 20 October 2026). Partners Life's current disclosure page says: "Effective 5 February 2026, Partners Life has a financial strength rating of A (Excellent) with Stable Outlook from A.M. Best" (Partners Life: Solvency and financial strength, read 20 October 2026). So the grade is the same in both documents and the effective date has moved on: agencies reaffirm ratings, and the date changes with each review. For the live position, check that page or A.M. Best's site.
The rating scale
| Grade | Descriptor |
|---|---|
| A++, A+ | Superior |
| A, A- | Excellent |
| B++, B+ | Good |
| B, B- | Fair |
| C++, C+ | Marginal |
| C, C- | Weak |
| D | Poor |
Source: A.M. Best guide, read 20 October 2026. The guide describes Fair as "a fair ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions". Lower-case grades such as "bb" are A.M. Best's separate Issuer Credit Ratings, not financial strength ratings.
What New Zealand law requires
The Insurance (Prudential Supervision) Act 2010 (version as at 1 July 2025) sets the rules (legislation.govt.nz).
- Section 60: a licensed insurer must have a current financial strength rating given by an approved rating agency. "Current" means given not more than one year before the date the insurer must have one.
- Section 62: the Reserve Bank approves rating agencies and publishes the list.
- Section 64: before entering into or renewing a contract, the insurer must tell you in writing its current rating, the agency, and the scale the rating belongs to. An intermediary can make that disclosure instead.
- Section 67: an insurer's website that advertises its products must state the rating, agency and scale clearly, or link to a page that does.
- Section 69: if a rating is lowered, the insurer must give public notice within 10 working days or written notice to every New Zealand policyholder within 60 working days.
This is why insurers publish a rating page at all. It also explains why the rating you see on a QuoteHub page is dated and linked to the insurer's own disclosure.
How other New Zealand insurers are graded
Each grade below is the one the insurer publishes, with its agency. Agencies use different scales, so do not read across rows from different agencies.
| Insurer | Rating (agency) | Notes |
|---|---|---|
| Partners Life | A (Excellent) (A.M. Best) | Effective 5 February 2026 per its disclosure page (23 January 2025 in its 2025 brochure) |
| Chubb Life New Zealand | A (Excellent) (A.M. Best) | Not the same as Chubb's general insurer |
| Fidelity Life | A- (Excellent) (A.M. Best) | Rated since December 1996 per Fidelity |
| Pinnacle Life (OneChoice, NZ Seniors) | B+ (Good) (A.M. Best) | Affirmed 15 April 2026 |
| Autosure (Greenwich Life) | B++ (Good) (A.M. Best) | Affirmed 10 September 2026 |
| Momentum Life | B (Fair) (A.M. Best) | Affirmed 11 February 2026 |
| AIA New Zealand | AA (Very Strong) (Fitch) | As AIA publishes it |
| Asteron Life | A+ (Strong) (Fitch) | No date on the page |
| nib nz | A (Strong) (S&P Global) | No date on the page |
Sources: each insurer's own financial strength page, retrieved 17 to 20 October 2026, linked in References. Momentum Life's rating is B (Fair), which its own scale places in its "Vulnerable" range (Momentum Life: Financial strength). The two insurers also sell different things: Momentum's Quick Life and Funeral Insurance are guaranteed acceptance (no health questions, with a two-year restriction on cover), whereas Partners Life cover is underwritten and arranged through advisers. The grade tells you about the insurer, not whether its product fits you.
Solvency is a separate number
A rating is an agency's opinion. Solvency is a regulatory test. Insurers must hold capital above a required minimum, and the ratio is the capital held divided by the capital required. Momentum, for example, reports capital of $8.8 million against a requirement of $8.2 million, a ratio of 107%, at 30 June 2026. Fidelity Life reports 113% and Pinnacle Life 112.6% at the same date. Partners Life shows its solvency figures as a graphic that we cannot quote. These ratios belong to insurers of very different sizes, and the margins range from under $1 million to over $100 million, so do not rank insurers on the ratio.
What a rating cannot tell you
- Claims behaviour. The A.M. Best guide says its rating does not address claims-payment policies. Partners Life published a separate figure: it paid 95% of assessed claims between 1 April 2024 and 31 March 2025. That counts assessed claims only, and other insurers use other denominators, so it cannot be compared with another insurer's percentage.
- Price or suitability. A highly graded insurer can still be the wrong product, and a lower grade can be the only route for some applicants.
- The future. A rating is a forward-looking opinion. It can change, and the law requires notice if it falls.
Ownership and the Fidelity Life sale
Partners Life is owned through Partners Group Holdings by Daiichi Life Group, which bought it in November 2022 (Daiichi Life Group notice, 3 September 2026). The same notice says Partners Group Holdings signed on 3 September 2026 to buy 100% of Fidelity Life for NZ$630 million, with completion scheduled between March and July 2027, subject to regulatory approval. Any rating change would be A.M. Best's decision, and we do not forecast one. See who owns Partners Life.
How to check any insurer yourself
- Find the insurer's financial strength page and note the grade, agency and date.
- Check the agency's own scale, and read the descriptor, not only the letter.
- Look for the date. An undated rating is harder to rely on.
- Check the Reserve Bank's register of licensed insurers.
- Use our financial strength explorer for every licensed life insurer in one place, and our guide to ratings for the scales.
For the product, see our Partners Life page and Momentum Life page. The guaranteed acceptance products are explained in our guaranteed acceptance hub.
Frequently asked questions
Is Partners Life financially strong?
Its published rating is A (Excellent) from A.M. Best, which is the second-highest band on A.M. Best's scale after Superior. That is the agency's opinion, not a guarantee.
Who rates Partners Life?
A.M. Best, which Partners Life describes as an RBNZ-approved rating agency.
What happens if Partners Life's rating is lowered?
The Act requires the insurer to give public notice within 10 working days or written notice to every New Zealand policyholder within 60 working days.
Where can I see Partners Life complaints information?
Partners Life's brochure says its Customer Outcomes Review Committee reviews complaints and investigates claims declined for incorrect or non-disclosed information. Disputes can go to an approved external scheme.
References
- A.M. Best: Guide to Best's Financial Strength Ratings, retrieved 20 October 2026
- Partners Life: This is Partners Life 2025, claims brochure (PDF), retrieved 20 October 2026
- Partners Life: Solvency and financial strength, retrieved 20 October 2026
- Insurance (Prudential Supervision) Act 2010, retrieved 18 October 2026
- Momentum Life: Financial strength, retrieved 20 October 2026
- Fidelity Life: Financial strength, retrieved 20 October 2026
- Pinnacle Life: Financial strength, retrieved 20 October 2026
- Autosure: Financial strength, retrieved 20 October 2026
- Chubb Life NZ: Financial strength, retrieved 20 October 2026
- AIA New Zealand: Life cover, retrieved 17 October 2026
- Asteron Life: Financial strength, retrieved 20 October 2026
- nib: Financial strength and advice, retrieved 20 October 2026
- Daiichi Life Group: notice of acquisition of Fidelity Life (PDF), retrieved 20 October 2026
Read the full insurance guides
Compare your cover with a licensed NZ adviser · free, no obligation.
Explore related pages: Life Insurance, Income Protection, Health Insurance, Trauma Insurance, What You Get.