Cigna NZ’s rating upgraded by A.M. Best

Cigna NZ’s rating upgraded by A.M. Best | Insurance Business New Zealand

Cigna NZ’s rating upgraded by A.M. Best
Cigna Life Insurance NZ (CLINZ) has had its financial strength rating upgraded from A- to A by A.M. Best.

“This is confirmation of Cigna’s strong balance sheet and the underlying long-term sustainability of our business for the benefit of our customers,” said Cigna head of finance Mark Schollum.

“Cigna is committed to doing the best it can for New Zealanders and this upgrade is testament to the work we have put in to ensure we can continue to provide for our customers’ needs.”

A.M. Best said in a statement the rating upgrade reflected the support CLINZ receives from its US parent company Cigna Corporation (Cigna).

They also said: “CLINZ’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), remains solid. The company has favourable balance sheet liquidity, supplemented by positive operating cash flows. In addition, the company has maintained a track record of positive underwriting results and stable investment income.”

CLINZ is a member of ICNZ.

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