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Who insures my policy?

Initio is underwritten by NZI, a business division of IAG New Zealand Limited, which has received a financial strength rating of AA- from Standard & Poor’s (Australia) Pty Ltd, an approved rating agency.


A rating of AA- means we have a ‘Very Strong’ claims paying ability, as you can see in the scale below.

The rating scale is:
AA (Very Strong)
A (Strong)
BBB (Good)
BB (Marginal)
B (Weak)
CCC (Very Weak)
CC (Extremely weak)
SD (Selective Default)
D (Default)
R (Regulatory Supervision)
NR (Not Rated)


The ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.


The rating scale above is in summary form. A full description of this rating scale can be obtained from