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About Sovereign

All policies offered through this website are underwritten by Sovereign, New Zealand’s largest life insurance company, which is part of the Commonwealth Bank of Australia Group and is a related company of ASB Bank Limited and its subsidiaries.

Financial Strength

Sovereign Assurance Company Limited (‘Sovereign’) has the highest financial strength rating of any life insurance company in New Zealand. Its financial strength rating is A+ (Superior) from A.M. Best Company, Inc. of the United States. A.M. Best Company has been approved by the Reserve Bank of New Zealand under the Insurance (Prudential Supervision) Act 2010 to provide financial strength ratings of New Zealand life insurance companies. A. M. Best Company is the largest ratings agency of its type, and it specialises in providing ratings to insurance companies worldwide.

The A.M. Best Company rating scale is:

Secure Vulnerable
A++, A+ (Superior)
A, A- (Excellent)
B++, B+ (Good)
B, B- (Fair)
C++, C+ (Marginal)
C, C- (Weak)
D (Poor)
E (Under Regulatory Supervision)
F (In Liquidation)
S (Suspended)

The A.M. Best Company rating scale is available for inspection at every office in New Zealand of Sovereign.

For additional risk management and diversification, Sovereign has a reinsurance treaty with General Re Corporation, a Berkshire Hathaway company based in the United States. General Re Corporation has a financial strength rating of A++ (Superior) from A.M. Best Company, the highest rating possible.

Sovereign is entrusted by Kiwis with more than $500 million in premiums each year, and is backed by total assets in excess of $2.4 billion. With total claim payments of more than $265 million every year, Sovereign pays more in claims than any other life insurance company in New Zealand.

Why Financial Strength Matters

The financial strength of a life insurance company makes all the difference. Financial strength is indicated by a rating which is given by an independent and authorised rating agency. A financial strength rating is important because it measures the ability of a life insurance company to meet its future claims. A financially strong life insurer is also better positioned to embrace a willingness to meet those claims. Why choose something weaker when your financial security, and that of your family, is at stake?

Insurance Expertise

Sovereign has a breadth and depth of expertise in the New Zealand insurance market which is second to none. From product innovation and distribution, to underwriting and claims processing, Sovereign has assembled a diverse team of people who are highly regarded in their respective fields. With more than 670,000 customers throughout New Zealand, and as New Zealand’s largest life insurer, Kiwis increasingly turn to Sovereign as a known and trusted name.