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 30 September 2019 Foundation Life (NZ) Limited's solvency margin is $31.456m
| Statutory Fund as at 30 Sept 2019 $000 |
Non-Statutory Fund as at 30 Sept 2019 $000 |
Aggregate for FLNZ as at 30 Sept 2019 $000 |
|
|---|---|---|---|
Actual solvency capital |
36,402 | 54 | 36,456 |
Minimum solvency capital |
3,151 | - | 5,000 * |
Solvency margin |
33,251 | 54 | 31,456 |
RBNZ minimum solvency margin |
(15,000) ** | - | - |
Margin in excess of required minimum |
18,251 | 54 | 31,456 |
Solvency ratio |
1155% | 20000% | 729% |
* 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.