• +353-1-416-8900(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Summary: AA Insurance Ltd. May 11 Product Image

Summary: AA Insurance Ltd. May 11

  • ID: 1810764
  • May 2011
  • Standard & Poors

The rating on New Zealand-based insurer AA Insurance Ltd. (AAIL; A+/Stable/--) reflects our opinion of the company's core status within, and combined strength of, the Suncorp Group Ltd. companies. We consider AAIL to be a core entity of the Suncorp Group Ltd. group. The company is indirectly 68% owned by Suncorp Group Ltd. through Suncorp's wholly-owned subsidiary, Vero Insurance New Zealand Ltd. (Vero NZ; A+/Stable/--), with the remainder owned by the New Zealand Automobile Association (NZAA; not rated). While AAIL is a joint-venture partnership, the company remains highly integrated with Suncorp Group Ltd., particularly in the areas of system and investment management, business management replication, and policy and administration. In our view, AAIL's stand-alone strength reflects the insurer's strong brand,...

Companies mentioned in this report are: AA Insurance Ltd.,Vero Insurance New Zealand Ltd.
Action: Review

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 READ MORE >

AA Insurance Ltd.,Vero Insurance New Zealand Ltd.

Note: Product cover images may vary from those shown