Vero Insurance New Zealand Ltd. May 11
- ID: 1810569
- May 2011
- Region: New Zealand
- Standard & Poors
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.
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