Financial Strength Rating and Solvency Margin

Standard and Poor's

'A' Financial Strength Rating

Standard and Poor's has assigned to The Hollard Insurance Co. Pty Ltd. the Financial Strength Rating of 'A' (Outlook Stable).

Rating effective 12 August 2024.

The Standard & Poor's rating scale is:

AAA Extremely Strong
AA Very Strong
A Strong
BBB Good
BB Marginal
B Weak
CCC Very Weak
CC Extremely Weak
C Selective Default
D Default

The rating 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 www.standardandpoors.com.

If you are insured with Hollard in NZ, an overseas policyholder preference applies. Under Australian law, if The Hollard Insurance Company Pty Ltd is wound up, its assets in Australia must be applied to its Australian liabilities before they can be applied to overseas liabilities. To this extent, New Zealand policyholders may not be able to rely on The Hollard Insurance Company Pty Ltd’s Australian assets to satisfy New Zealand liabilities.

Capital Adequacy Disclosures

Under APRA's Prudential Standard GPS 110 Capital Adequacy, Hollard is required to publish, at least annually, information to improve the understanding of its capital adequacy by policyholders and other market participants. The following information fulfils this requirement for the general insurer The Hollard Insurance Company (HIC) Pty Ltd, Hollard Insurance Partners Pty Ltd and the Level 2 Insurance Group Hollard Holding Australia Pty Ltd.

As at 31 December 2023, our capital adequacy filed with APRA is as follows:

As a licenced insurer in New Zealand, HIC is required to disclose the home jurisdiction equivalent of the following items under the RBNZ's solvency framework.

Given the Australian home jurisdiction of HIC, the equivalents under APRA prudential standards are provided.