Rating & Solvency
For insurance policies taken out on or after 23 January 2020, please click "Find out more". Autosure insurance policies are underwritten by DPL Insurance Limited.
For insurance policies taken out before 23 January 2020, please see the details below.
Insurance (Prudential Supervision) Act 2010
MARAC Insurance Limited has been assigned an Insurer Financial Strength rating of BB+ (Outlook Negative) by Fitch Ratings.
A summary of the rating scale is:
|Secure Range||Vulnerable Range|
"+" or "-" may be appended to a rating to indicate the relative position of a credit within the rating category.
MARAC Insurance Limited Solvency Margin
The Insurance (Prudential Supervision) Act 2010 requires life insurers such as MARAC Insurance Limited to hold a minimum amount of capital. Having a solvency margin above zero means an insurer holds more than the minimum amount of capital. The following table shows a breakdown of MARAC Insurance Limited’s solvency margins as at 30 June 2019.
|Life (Statutory fund)
|Audited 30 June 2019|
|Actual Solvency Capital||3,287||2,265||5,552|
|Minimum Solvency Capital*||2,960||2,040||5,000|
* An aggregate minimum of $5m applies to all companies writing life insurance.
MARAC is a division of Heartland Bank Limited.