In its Interim Solvency Return, filed with the Reserve Bank of New Zealand, IAG New Zealand Limited’s Adjusted Solvency Margin as at 31 December 2025 was as follows:
State is a business division of IAG New Zealand Limited (IAG). IAG has received a financial strength rating of AA from Standard & Poor’s (Australia) Pty Ltd, an approved rating agency.
A rating of AA means IAG has a ‘very strong’ claims-paying ability, as you can see in the scale below.
AAA
Extremely strong
AA
Very strong
A
Strong
BBB
Good
BB
Marginal
B
Weak
CCC
Very weak
CC
Extremely weak
SD
Selective Default
D
Default
The 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.
The rating scale above is in summary form. A full description of this rating scale can be obtained from standardandpoors.com.