Solvency Ratio
In its Half-Yearly Solvency Return filed with the Reserve Bank of New Zealand and APRA (Australia), Pacific International Insurance Limited had a Solvency Margin as at 31 December 2021 as follows:
- Actual Solvency Capital: AUD 30,227,000
- Minimum Solvency Capital: AUD 9,723,000
- Solvency Margin: AUD 20,504,000
- Solvency Ratio: 310.88%
Pacific International Insurance uses Tier 1 Capital.
Pacific International Insurance utilises a panel of reinsurance companies that have credit rating positions in the A range or higher (as rated by both A.M. Best and Standard & Poor’s).
Financial Strength Rating
Pacific International Insurance has a Financial Strength Rating of B++ (Good) from the USA rating agency A.M. Best. The rating is reviewed by A.M. Best on an annual basis, with the rating scale outlined below.