Partners gets ratings upgrade
Rating agency AM Best has upgraded New Zealand life insurer Partners Life’s Financial Strength Rating from B++ (Good) to A- (Excellent).
It also upgraded Partners Life’s Long-term Issuer Credit Rating to “a-” from “bbb+”. The outlook of these ratings is stable.
AM Best said the ratings reflect Partners Life’s balance sheet strength, which it categorises as very strong, as well as Partners Life’s adequate operating performance, neutral business profile and appropriate enterprise risk management.
“The upgrades to Partners Life’s credit ratings reflect our focus on sound financial management,” says Partners Life Managing Director Naomi Ballantyne.
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