Financial Strength and Solvency
A- (Excellent)
Foundation Life (NZ) Limited has an A- (Excellent) Financial Strength Rating from A.M. Best, effective 23 August 2019.
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 2019 Foundation Life (NZ) Limited's solvency margin is $31.973m
| Statutory Fund as at 31 March 2019 $000 |
Non-Statutory Fund as at 31 March 2019 $000 |
Aggregate for FLNZ as at 31 March 2019 $000 |
|
|---|---|---|---|
Actual solvency capital |
36,919 | 54 | 36,973 |
Minimum solvency capital |
2,724 | - | 5,000 |
Solvency margin |
34,195 | 54 | 31,973 |
Solvency ratio |
1355% | 20000% | 739% |
On 31 August 2015 the Reserve Bank of New Zealand imposed a conditions of licence requirement for Foundation Life (NZ) Limited to maintain a minimum solvency margin of $15 million in its statutory fund.