nib gets its latest rating report card on its performance

Rob Hennin, nib CEO

S&P says nib NZ is the second-largest provider of health insurance products in the New Zealand market and it accounts for more than 20% of the capital of its Australian parent company.

"The ratings on nib NZ reflect the insurer's...sound competitive position and sound capital and earnings."

The SACP includes a favorable one-notch holistic adjustment to reflect our view that the risks associated with the insurer's small capital base are offset--but not eliminated--by the New Zealand public hospital and Accident Compensation (ACC) limiting nib NZ's exposure to accident and pandemic risk. The adjustment also factors in peer rating relativities."

"The rating captures our view that the insurer is integral to the strategy of nib Holdings Ltd., such that its creditworthiness is equalised to that of the group.