Solvency Ratio and Financial Strength Rating

Pacific is incorporated and holds financial service licences in Australia (ABN 83 169 311 193 | AFSL 523921) and New Zealand (NZBN 94 290 413 565 00 | FSP 394846).

Pacific is regulated by  the Australian Prudential Regulation Authority (“APRA”) and Reserve Bank of New Zealand (“RBNZ”).


Financial Strength Rating


Pacific has a financial strength rating of B++ (Good) issued by A.M. Best in accordance with the following rating scale:


  • 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).


For more information about the rating scale, process and methodology, click here.


Solvency Ratio


Pacific is regulated by APRA and RBNZ.  


Under the Solvency Standard issued by the RBNZ, Pacific is required to retain a positive solvency margin. In Pacific’s latest solvency return filed with APRA and RBNZ, Pacific’s Solvency Margin as at 31 December 2021 was:


  • Actual Solvency Capital: AUD 30,227,000
  • Minimum Solvency Capital: AUD 9,723,000
  • Solvency Margin: AUD 20,504,000
  • Solvency Ratio: 310.88%


Overseas Preference


Under Australian law, if Pacific is wound up, its assets in Australia must be applied to its Australian liabilities before they can be applied to overseas liabilities. To this extent, New Zealand policyholders may not be able to rely on Pacific’s Australian assets to satisfy New Zealand liabilities.


Rating Scale – FSR 


A++ and A+ Superior
A and A- Excellent
B++ and B+ Good


B and B- Fair
C++ and C+ Marginal
C and C- Weak
D Poor
E Under Regulatory Supervision
F In Liquidation
S Suspended