Financial profile
Combined is committed to offering affordable, quality products that protect individuals and families without asking people to dig deeply in their pockets in the process. We believe in bringing value to all aspects of our organisation, whether you're a customer, employee or business associate.
Financial Facts
Combined has paid more than NZ $ 12.17 billion in benefits to our customers around the world over the years and has consolidated assets in excess of NZ $ 3.83 billion. In 2005 almost NZ $ 2.38 million was paid each and every working day in benefits – that’s over NZ $ 628.39 million in total benefits for the year.*
Financial Ratings
Today’s market demands that companies demonstrate the stamina and endurance to perform in the long term. Combined’s financial strength is recognised by the various professional organisations that review insurance companies and we have earned the following ranking:
Combined Insurance Company of America – New Zealand Branch (trading as Combined Insurance Company of New Zealand) has an A- Strong claims paying rating given by Standards and Poor’s (Australia) Pty Ltd on 18 May 2007.
The rating scale is:
| AAA Extremely Strong | BBB Good | CCC Very Weak |
| AA Very Strong | BB Marginal | CC Extremely Weak |
| A Strong | B Weak | R Regulatory Action |
Plus (+) or (-): The ratings from “AA” to “B” may be modified by the addition of plus or minus sign to show relative standing within the major rating categories.
Financial Statement
Combined has a long tradition of maintaining a strong financial profile. We consistently achieve strong cash flows and our invested assets emphasise high quality, fixed income assets that match our product liabilities reasonably. Our products generate stable claims patterns with minimal fluctuations which may result from changes in today's economic conditions. This, in conjunction with tightly managed expenses and conservative investment practices, produces predictable operating results, a strong cash flow and desirable return on capital
2007 Statutory Results
Note: US Dollars in thousands
| Premiums Written | $1,243,778 |
| Revenue | $1,473,342 |
| Pre-Tax Income | $312,633 |
| Invested Assets & Cash | $3,066,194 |
| Insurance Liabilities | $2,033,146 |
| Total Liabilities | $2,281,229 |
| Total Capital & Surplus | $933,732 |
