Youi NZ is a newly formed company licensed as a non-life insurer in
The ratings of Youi NZ are based on its sound risk-adjusted capitalization and its prudent business plan. The companyís net premium-to-surplus ratio is anticipated to remain under 0.4 times throughout its first five years of operation. In addition, the assumptions used in the companyís business plan are based primarily on the groupís actual startup experience in
Partially offsetting these positive rating factors are Youi NZís lack of operating history in the
Factors that may trigger negative rating actions include a material adverse deviation of its risk-adjusted capital relative to its business plan due to a failure to meet its planned underwriting and investment performance.
The methodology used in determining these interactive ratings is Bestís Credit Rating Methodology, which provides a comprehensive explanation of A.M. Bestís rating process and contains the different rating criteria employed in the rating process. Bestís Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.
This rating announcement has been issued by
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Senior Financial Analyst
Manager, Public Relations
Assistant Vice President, Public Relations