Solvency margin


In the half year Solvency Return filed with the Reserve Bank of New Zealand, Southern Cross Benefits Limited had a Solvency Margin as at 31 December 2018 and in the full year as at 30 June 2019 as follows:



                         30 June 2019   31 December 2018
  $000 $000
Minimum solvency capital 12,039 10,791
Actual solvency capital 18,146 19,925
Solvency margin 6,107 9,134

Solvency ratio 



Issued and underwritten by Southern Cross Benefits Limited trading as Southern Cross Travel Insurance. 

We are a Registered Financial Service Provider and a member of the Insurance & Financial Services Ombudsman Scheme.  Southern Cross Benefits Limited has an A (Strong) financial strength rating given by Standard & Poor's (Australia) Pty Ltd. The rating scale is: AAA (Extremely Strong) AA (Very Strong) A (Strong) BBB (Good) BB (Marginal) B (Weak) CCC (Very Weak) CC (Extremely Weak) SD or D (Selective Default or Default) R (Regulatory Supervision) NR (Not Rated). Ratings from 'AA' to 'CCC' may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.  Full details of the rating scale are available at Standard & Poor's (Australia) Pty Ltd is an approved agency under the Insurance (Prudential Supervision) Act 2010.

All our travel insurance policies (including but not limited to the benefits, terms, conditions and exclusions) and premiums quoted are subject to change.

Copyright © 2020 Southern Cross Benefits Limited