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Register of licensed insurers

Information on the insurers who are licensed to carry on insurance business in New Zealand.

Published:

28 February 2022

Updated:

11 December 2024

Insurers required to be licensed

Insurers seeking to carry on insurance business in New Zealand are required to be licensed under Section 19 of the Insurance (Prudential Supervision) Act 2010 (the IPSA). It is an offence under section 15 of the IPSA for a person to carry on insurance business in New Zealand without holding a licence. The exception is when section 246(1A) of the IPSA applies.

Read Section 19 of the Insurance (Prudential Supervision) Act 2010

Under Section 54A of the IPSA, we are required to keep a public register of licensed insurers and their current financial strength ratings.

Exemptions

The IPSA includes provisions for exemptions. Exemptions allow suitable flexibility when applying the prudential supervision regime, and typically apply to overseas insurers who are subject to equivalent regulation in their home jurisdictions.

Cancellation of licences

We can cancel licences for a number of reasons, as outlined in Section 30 of the IPSA.

Find out what licences have been cancelled

The name of the licensed insurer reflects the legal company name recorded with the Companies Office under the Companies Act 1993. Trading names and/or brands are not included.

Financial strength ratings of licensed insurers

Section 60 of the IPSA requires some licensed insurers to have a current financial strength rating from an approved rating agency.

We have approved three rating agencies: A M Best, Standard & Poor's and Fitch Ratings. These agencies' websites have information about their financial strength ratings, criteria and scale:

A M Best

Standard & Poor's

Fitch Ratings

Disclaimer on currency of ratings

The ratings in the table below are as disclosed to us. We have done our best to ensure these ratings are current. However, we cannot guarantee all ratings shown are the most up to date as this relies on the licensed insurer letting us know within our defined timeframes if their rating has changed.

Insurers are legally obligated under Section 63 of the IPSA to tell us when their financial strength rating has been updated.

Read Section 63 of the IPSA on the Government Legislation website

Cancellation notices

The Reserve Bank of New Zealand is satisfied that Accuro Health Insurance Limited is no longer carrying on insurance business in New Zealand according to the Insurance (Prudential Supervision) Act 2020 (“the Act”). As requested by Accuro Health Insurance Limited, the licence issued to it on 11 June 2013 under section 19 of the Act was cancelled on 31 May 2024 pursuant to section 30(1) of the Act.

The Reserve Bank of New Zealand is satisfied that Manchester Unity Friendly Society is no longer carrying on insurance business in New Zealand according to the Insurance (Prudential Supervision) Act 2020 (“the Act”). As requested by Manchester Unity Friendly Society, the licence issued to it on 29 April 2013 under section 19 of the Act was cancelled on 30 November 2023 pursuant to section 30(1) of the Act.

Register of New Zealand licensed insurers

Insurer	Licence Effective Date	Name of rating agency and rating			Exemptions
		A.M. Best	Standard & Poor’s	Fitch	S38	S59	S60(2A)	S119	S204(4)
AA Insurance Limited	07/05/2013		AA-
ACS (NZ) Limited ***	27/02/2012	Not required	Not required	Not required			Y
AIA New Zealand Limited	16/08/2013			AA
AIG Insurance New Zealand Limited	23/11/2011		A
Aioi Nissay Dowa Insurance Co., Ltd	12/03/2013	A+	A+		Y	Y
Allianz Australia Insurance Limited	01/01/2013		AA-		Y	Y
American Income Life Insurance Company	23/08/2013	A			Y
Asteron Life Limited	17/05/2013		A+
Atradius Credito y Caucion, S.A. de Seguros y Reaseguros	28/06/2013	A			Y	Y
Beneficial Insurance Limited	27/02/2013	B++
Berkshire Hathaway Specialty Insurance Company	29/06/2015	A++	AA+		Y	Y
Booster Assurance Limited	08/05/2013	Not required	Not required	Not required
Brightsideco Insurance Limited	30/05/2013	B
CBL Insurance Limited (In Liquidation)	04/09/2013	Not required	Not required	Not required			Y
CentrePort Captive Insurance Limited	14/10/2022	Not required	Not required	Not required
Chubb Insurance New Zealand Limited	02/08/2013		AA-
Chubb Life Insurance New Zealand Limited	12/08/2013	A
Compagnie Francaise D'Assurance Pour Le Commerce Exterieur	13/12/2021	A		AA-	Y	Y
Co-operative Life Limited	25/03/2013	B++
DPL Insurance Limited	22/08/2013	B++
Factory Mutual Insurance Company	05/10/2015	A+	A+	AA	Y	Y
Fidelity Life Assurance Company Limited	02/08/2013	A-
First American Title Insurance Company of Australia Pty Limited	26/08/2013	A			Y	Y
First Insurance Limited	11/05/2018			BB
FMG Insurance Limited	27/02/2013	A
Foundation Life (NZ) Limited	26/08/2013	A-
General Reinsurance Australia Ltd	22/05/2013	Not required	Not required	Not required	Y	Y
General Reinsurance Life Australia Ltd	22/05/2013	Not required	Not required	Not required	Y	Y		Y
Great Lakes Insurance SE	02/04/2013	A+	AA-		Y	Y
Hallmark General Insurance Company Ltd.	29/02/2012	Not required	Not required	Not required	Y	Y	Y
Hallmark Life Insurance Company Limited	28/05/2013	Not required	Not required	Not required	Y	Y	Y	Y
Hannover Life Re of Australasia Ltd	02/04/2013		AA-		Y	Y		Y
HDI Global Specialty SE	31/03/2021	A+	A+		Y	Y
Helia Insurance Pty Limited	18/04/2013		A	A	Y	Y
IAG New Zealand Limited	13/08/2013		AA
Indemnity and General Insurance Company Limited	15/07/2013	Not required	Not required	Not required
Lloyd's of London	19/06/2013	A+	AA-	AA-		Y			Y
Manawa Energy Insurance Limited	04/04/2013	Not required	Not required	Not required
Marac Insurance Limited	07/05/2013						Y
Medical Insurance Society Limited	27/05/2013		A
Medical Life Assurance Society Limited	27/05/2013		A
Meridian Energy Captive Insurance Limited	25/06/2013	Not required	Not required	Not required
Mitsui Sumitomo Insurance Company, Limited	25/03/2013	A+	A+		Y	Y
Momentum Life Limited	12/03/2018	B++
Munich Reinsurance Company	02/04/2013	Not required	Not required	Not required	Y	Y
Munich Reinsurance Company of Australasia Limited	02/04/2013	Not required	Not required	Not required	Y	Y		Y
New Zealand Dental Insurance Society Limited	15/07/2013	Not required	Not required	Not required
New Zealand Medical Indemnity Insurance Limited	28/06/2013	B+
nib nz insurance limited	10/06/2013		A
nib nz limited	26/06/2013		A
NorthStandard Limited	09/10/2018		A		Y	Y
Pacific International Insurance Pty Limited	04/09/2013	B++			Y	Y
Partners Life Limited	03/09/2013	A
Pinnacle Life Limited	29/04/2013	B+
Police Health Plan Limited	07/05/2013	A-
Provident Insurance Corporation Limited	31/07/2013	B
QBE Insurance (Australia) Limited	18/12/2015	A	A+	A+	Y	Y
QBE Lenders' Mortgage Insurance Limited	01/03/2013		A+	A+	Y	Y
Quest Insurance Group Limited	29/04/2013	B
Resolution Life Australasia Limited	05/09/2013			A	Y	Y		Y
Resolution Life New Zealand Limited	22/06/2020			A
RGA Reinsurance Company of Australia Limited	24/02/2012	Not required	Not required	Not required	Y	Y		Y
Risk Reinsurance Limited	23/03/2023	Not required	Not required	Not required
SCOR SE	16/01/2019	Not required	Not required	Not required	Y
Selacs Insurance Limited	31/07/2013	Not required	Not required	Not required
Southern Cross Benefits Limited	19/02/2013		A
Southern Cross Medical Care Society	21/02/2013		A+
Southern Cross Pet Insurance Limited	30/01/2020		A
Southsure Assurance Limited	15/07/2013			BBB+
Swiss Re Life & Health Australia Limited	02/05/2013	Not required	Not required	Not required	Y	Y		Y
T&G Insurance Limited	21/11/2017	Not required	Not required	Not required
Teal Insurance Limited	29/05/2013	Not required	Not required	Not required
The Hollard Insurance Company Pty Ltd	14/01/2016	A-	A		Y	Y
The New India Assurance Company Limited	26/02/2013	B++			Y	Y
Tokio Marine & Nichido Fire Insurance Co., Ltd.	11/03/2013	A++	A+	AA-	Y	Y
TOWER Limited	27/08/2013	A-
Union Medical Benefits Society Limited	23/05/2013	A
Unison Insurance Limited	22/07/2013	Not required	Not required	Not required		Y
Vero Insurance New Zealand Limited	07/06/2013		AA-
Vero Liability Insurance Limited	07/05/2013		AA-
Veterinary Professional Insurance Society Incorporated	15/07/2013	B
Virginia Surety Company, Inc	27/06/2013	A+			Y	Y
Zurich Australian Insurance Limited	15/07/2013		AA-		Y	Y

*** Provisionally licensed under s246(1A)