Credit ratings agency AM Best has reaffirmed the financial strength rating of Cigna as ‘A’ (Excellent) and its long-term issuer credit rating of ‘A’ with stable outlooks.
Cigna New Zealand Chief Financial Officer Mark Schollum says the rating is confirmation of the insurer’s balance sheet, the underlying long-term sustainability of the business, and its global-backing.
“At Cigna we’re committed to being here for our customers not only now but in the long-term,” he says. “Having this continued confidence in our business should be reassuring to our advisers and customers in these uncertain times.”
The AM Best report notes that the ratings of Cigna Life Insurance New Zealand reflect its balance sheet strength, which the agency assesses as “very strong” as well as the insurer having an “…adequate operating performance, neutral business profile and appropriate enterprise risk management.”
The rating’s agency says Cigna New Zealand ranks among the largest life insurance companies in the country and is viewed as significant to the Cigna group’s operations in the Asia-Pacific region.