Our financial strength rating: A- (Excellent).

Our financial strength rating: A- (Excellent).

Our financial strength rating: A- (Excellent).

Fidelity Life has maintained an A- (Excellent) financial strength rating from A.M. Best since December 1996.

AM Best's Financial Strength Rating (FSR) Scale.

Rating categories Rating symbols Rating notches*

Category definitions

Superior A+ A++ Assigned to insurance companies that have, in our opinion, a superior ability to meet their ongoing insurance obligations.
Excellent A A- Assigned to insurance companies that have, in our opinion, an excellent ability to meet their ongoing insurance obligations.
Good B+ B++ Assigned to insurance companies that have, in our opinion, a good ability to meet their ongoing insurance obligations.
Fair B B- Assigned to insurance companies that have, in our opinion, a fair ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.
Marginal C+ C++ Assigned to insurance companies that have, in our opinion, a marginal ability to meet their ongoing insurance obligations. Financial strength is vulnerable to adverse changes in underwriting and economic conditions.
Weak C C- Assigned to insurance companies that have, in our opinion, a weak ability to meet their ongoing insurance obligations. Financial strength is very vulnerable to adverse changes in underwriting and economic conditions.
Poor D - Assigned to insurance companies that have, in our opinion, a poor ability to meet their ongoing insurance obligations. Financial strength is extremely vulnerable to adverse changes in underwriting and economic conditions.

*Each Best's Financial Strength Rating Category from "A+" to "C" includes a Rating notch to reflect a gradation of financial strength within the category. A Rating notch is expressed with either a second plus "+" or a minus "-".

AM Best's Financial Strength Non-Rating Designations.

Designation symbols Designation definitions
E Status assigned to insurers that are publicly placed, via court order into conservation or rehabilitation, or the international equivalent, or in the absence of a court order, clear regulatory action has been taken to delay or otherwise limit policyholder payments.
F Status assigned to insurers that are publicly placed via court order into liquidation after a finding of insolvency, or the international equivalent.
S Status assigned to rated insurance companies to suspend the outstanding FSR when sudden and significant events impact operations and rating implications cannot be evaluated due to a lack of timely or adequate information; or in cases where continued maintenance of the previously published rating opinion is in violation of evolving regulatory requirements.
NR Status assigned to insurance companies that are not rated; may include previously rated insurance companies or insurance companies that have never been rated by AM Best.

Our adjusted solvency margin.

The Adjusted Solvency Margin of Fidelity Life at 30 September 2023 was $164.2m, made up as follows:

 

Statutory Fund 

$'m

Non-Statutory Fund

$'m

Fidelity Life

$'m

Solvency Capital 743.5 41.2 784.7
Adjusted Prescribed Capital Requirement 599.8 20.7 620.5
Adjusted Solvency Margin 143.8 20.4 164.2
Adjusted Solvency Ratio 124% 199% 126%

Solvency Capital and Adjusted Prescribed Capital Requirements are determined in accordance with the RBNZ Interim Solvency Standard for life insurance business, 2023.

Adjusted Prescribed Capital Requirement is the minimum amount of capital that a licensed insurer should maintain in normal circumstances.

Solvency Capital is the amount of equity, adjusted in line with prescribed RBNZ requirements to move capital from a performance-reporting basis closer to a going-concern economic valuation.

The Adjusted Solvency Margin is the excess of Solvency Capital over the Adjusted Prescribed Capital Requirement.

The Adjusted Solvency Ratio is the Solvency Capital divided by the Adjusted Prescribed Capital Requirement.