A.M. Best has affirmed the financial strength rating of B++ (Good) and the issuer credit rating of "bbb" (Good) of Product Care (NZ) Limited (PCL) (New Zealand). The outlook for both ratings is negative.
The rating affirmations for PCL reflect its adequate risk-adjust capitalization, prospective favourable underwriting results and conservative investment strategy.
For more information on:
- A.M. Best's ratings for Product Care (NZ) Limited can be found here.
- A.M. Best's Financial Strength Ratings can be found here.
- A.M. Best's Issuer Credit Ratings can be found here.
- A.M. Best as a global credit rating agency can be found here.
Solvency Disclosures
Product Care's solvency was disclosed in its last financial statements as at 31 December 2017 as follows:
| $NZD '000 | |
| Actual Solvency Capital | 2,759 |
| Minimum Solvency Capital | 4,561 |
| Solvency Margin | (1,802) |
| Solvency Ratio | 60% |
These disclosures apply equally to its Aggregate requirements.