Fidelity Life has again had its A- (Excellent) financial strength rating affirmed by AM Best, which the insurer says marks 30 consecutive years since it first achieved the rating in 1996.
It notes the outlook for the rating is stable.
Fidelity Life says that according to AM Best, the rating reflects its ‘very strong’ balance sheet.
Chief Financial Officer Simon Pennington says the rating underscored the strength of the business.
“Thirty consecutive years at an A‑ (Excellent) rating is a powerful signal of Fidelity Life’s financial resilience. AM Best’s independent assessment reflects the strength of our balance sheet, our disciplined approach to capital management and the confidence placed in us by customers, advisers and shareholders for the long-term.
“In a changing environment, maintaining this position matters. It underpins our ability to manage risk responsibly, remain financially stable, and continue supporting New Zealanders…” he says.
Click here to see AM Best’s Financial Strength Rating Scale.