Financial Strength and Solvency



A- (Excellent)

Foundation Life (NZ) Limited has an A- (Excellent) Financial Strength Rating from A.M. Best, effective 3 September 2020.

The rating scale

Secure
Vulnerable
A++, A+ (Superior)
A, A- (Excellent)
B++, B+ (Good)
B, B- (Fair)
C++, C+ (Marginal)
C, C- (Weak)
D (Poor)
E (Under Regulatory Supervision)
F (In Liquidation)
S (Suspended)
For the latest rating, access www.ambest.com. This rating should not be read as a recommendation.


Solvency Margin

As at 31 March 2020 Foundation Life (NZ) Limited's solvency margin is $31.578 million.

  Statutory Fund
as at 31 Mar 2020
$000
Non-Statutory Fund
as at 31 Mar 2020
$000
Aggregate for FLNZ
as at 31 Mar 2020
$000
Actual solvency capital
36,524 54 36,578
Minimum solvency capital
2,480 - 5,000 *
Solvency margin
34,044 54 31,578
RBNZ minimum solvency margin
(15,000) ** - -
Margin in excess of required minimum
19,044 54 31,578
Solvency ratio
1473% 20000% 732%

* The company is required to hold $5m minimum solvency capital at the company level.

** A condition of Foundation Life (NZ) Limited's licence is to maintain a minimum solvency margin in its statutory fund of $15 million.