Brightsideco Insurance Limited's Financial Strength

COVID-19 & PRODUCT CARE CLAIMS UPDATE

Dear valued customer,

The current Coronavirus COVID-19 is having an unprecedented impact on our economy and personal lives. Your safety and that of our employees and partners is paramount. However, please be assured that we have appropriate measures in place to ensure we can continue to service you as efficiently as possible under the present circumstances.

Due to safety measures adopted by government and business partners, we may encounter unavoidable delays due to shortage of manpower or available spare parts. We apologise that in circumstances where our customers are unwell, we may not be able to service you until a later date.

Product Care Team.

A.M. Best has downgraded the financial strength rating to B (Fair) and the issuer credit rating to "bb+" (Fair) of Brightsideco Insurance Limited (BIL). The outlook for both ratings is stable.

For more information on:

A.M. Best's ratings for Brightsideco Insurance 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

Brightsideco Insurance’s solvency was disclosed in its last financial statements as at 31 December 2020 as follows:

	$NZD '000
Actual Solvency Capital	9,088
Minimum Solvency Capital	3,340
Solvency Margin	5,748
Solvency Ratio	272%

These disclosures apply equally to its Aggregate requirements.

Provided by PCASA Operations Pty Ltd