A.M. Best withdraws credit ratings of nib

The insurer will no longer participate in the rating process

A.M. Best withdraws credit ratings of nib

Insurance News

By Krizzel Canlas

Rating agency A.M. Best has affirmed a stable outlook for nib NZ Limited. Its financial strength rating was A- and its long-term issuer credit rating was “a-.” Concurrently, A.M. Best has withdrawn the ratings as the health insurer has requested to no longer participate in A.M. Best’s interactive rating process.

A.M Best said the ratings reflect nib’s strong risk-adjusted capitalization and continued favourable operating performance.

The insurer’s strong risk-adjusted capitalization was due to its low product risk profile, conservative investment mix, and favourable liquidity position.

The agency said nib achieved a good performance track record, with an average operating ratio of approximately 91% over the past five years.


Related stories:
A.M. Best upgrades outlook of Beneficial Insurance Limited
A.M. Best assigns credit rating to CBL Corporation Limited

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