Solvency margin

In its half year Solvency Return filed with the Reserve Bank of New Zealand, Southern Cross Benefits Limited had a Solvency Margin as at 31 December 2017 as follows:

 

      $000

Minimum solvency capital

   8,322

Actual solvency capital

 14,428

Solvency Margin

   6,106

Solvency Ratio

     1.73

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 www.standardandpoors.com. Standard & Poor's (Australia) Pty Ltd is an approved agency under the Insurance (Prudential Supervision) Act 2010.

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