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Vero Insurance New Zealand Ltd. May 11
Standard & Poors, May 2011
Core status within the 'A+' rated Suncorp Group Ltd. Strong market position in New Zealand Competitive nature of New Zealand's non-life insurance market The ratings on Vero Insurance New Zealand Ltd. (Vero NZ) reflect the company's core status within the Suncorp Group Ltd. group of companies. On a stand-alone basis, the ratings on Vero NZ reflect Standard & Poor's Ratings Services' view of the insurer's robust market position and strong relationships in the broker network. Offsetting these positive factors is the competitive nature of New Zealand's non-life insurance market. We regard Vero NZ as a core operating company in the Suncorp Group Ltd., contributing about 9% of the group's gross premium written in the six months ended Dec. 31, 2010....
Companies mentioned in this report are: Vero Insurance New Zealand Ltd.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Vero Insurance New Zealand Ltd.