A.M. Best withdraws credit ratings of nib

by Krizzel Canlas 07 Oct 2017

A.M. Best withdraws credit ratings of nib

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 Concurrently, A.M. Best has withdrawn the ratings as the health insurer has requested to no longer participate in A.M. Best’s interactive rating process.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.

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