Financial strength ratings for New Zealand insurers
Every licensed insurer in New Zealand must hold a current financial strength rating from an approved agency and must disclose it. The grade is an opinion on the insurer's ability to pay claims, issued to the licensed entity that carries the risk. It is not a rating of the policy, the service or the price, and a strong grade does not make a policy suitable.
How often this changes: Ratings are reissued by the agency rather than expiring; re-checked quarterly and on any republish. Figures on this page were last checked on 9 Sep 2026.
Financial strength grade for each insurer on the QuoteHub panel
| Insurer | Licensed entity | Grade (agency) | Effective date |
|---|---|---|---|
| AIA New Zealand | AIA New Zealand Limited | AA (Fitch) as published, read 14 Aug 2026 | Date not published |
| Asteron Life | Asteron Life Limited | A+ (Fitch) as published, read 14 Aug 2026 | Date not published |
| Chubb Life NZ | Chubb Life Insurance New Zealand Limited | A (Excellent) (A.M. Best) as published, read 14 Aug 2026 | Date not published |
| Fidelity Life | Fidelity Life Assurance Company Limited | A- (A.M. Best) as published, read 14 Aug 2026 | Date not published |
| Momentum Life | Momentum Life Limited (FSP472286) | B (Fair) (A.M. Best) as published, read 14 Aug 2026 | 11 Feb 2026 |
| Partners Life | Partners Life Limited | A (Excellent) (A.M. Best) as published, read 14 Aug 2026 | 5 Feb 2026 |
| nib nz | nib nz limited | A (Standard & Poor's) as published, read 14 Aug 2026 | Date not published |
| Southern Cross Health Society | Southern Cross Medical Care Society | A+ (Strong) (Standard & Poor's) as published, read 14 Aug 2026 | Date not published |
A grade belongs to the licensed entity that carries the risk, not to the brand on the policy document. Where a brand is written on another insurer's licence, the grade above is the underwriter's. A rating is reissued rather than expired, so an effective date matters as much as the letter.
Questions about financial strength ratings for new zealand insurers
What does a financial strength rating actually measure?
It is an agency's opinion on whether the insurer can meet its obligations to policyholders, based on its capital, its reserves, its reinsurance and its earnings. It says nothing about how the insurer prices, how it handles a claim, or whether a particular policy suits you.
Which agencies rate New Zealand insurers?
A.M. Best, Fitch Ratings and S&P Global are the agencies used here, and each publishes its own scale A.M. Best scale, read 9 Sep 2026. Their scales differ, so a grade is only comparable to another grade from the same agency: an A from one is not the same statement as an A from another.
My insurer is not on this list. Is that bad?
No. This table covers the insurers QuoteHub compares, which is a panel rather than the whole market. Every licensed New Zealand insurer holds and discloses a rating; one not shown here simply is not one we place business with.
Does the brand on my policy have its own rating?
Often not. Several New Zealand brands are written on another insurer's licence, and the rating that matters is the underwriter's. The licensed entity column above is the company that would actually pay your claim.
How much should a rating weigh in the decision?
Less than most people assume, once an insurer is licensed and rated. Solvency is regulated and every insurer in this table clears it. The definitions in the wording, the limits and the exclusions decide far more claims than the difference between one strong grade and another.
What happens to my policy if an insurer fails?
A New Zealand licensed insurer is supervised by the Reserve Bank, and a transfer of the book to another insurer is the usual outcome rather than policies simply ending. Fidelity Life taking on Westpac Life is a recent example of a book moving with the cover intact.
Where to go next
- Every published insurance number on this site
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- What a funeral costs in New Zealand, and what the state pays toward it
- Every health insurer, and who underwrites what
- Every life insurer, and who underwrites what
- What ACC covers, and what it does not
- How health insurance works in New Zealand
- Income protection, and when it pays
- How QuoteHub checks a figure before publishing it
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