Solvency Ratio

Pacific International Insurance Pty Ltd is regulated by both the RBNZ and APRA.

Under the Solvency Standard for Non-life Insurance Business (“the Solvency Standard”) issued by the Reserve Bank of New Zealand (“RBNZ”), to retain a positive solvency margin, meaning that the actual solvency capital position exceeds the minimum required under the Solvency Standard. The solvency information below is required to be disclosed in compliance with the Solvency Standard. 

Pacific International Insurance Pty Ltd uses Tier 1 Capital. As at 31 December 2020 Pacific International Insurance’s half-year solvency position was: 

Actual Solvency Capital: AUD 17,575,000

Minimum Solvency Capital: AUD 7,063,000

Solvency Margin: AUD 10,512,000

Solvency Ratio: 248.82%