Skip to main content

Beware of a fraudulent scam offering Heartland Bank bonds and term deposits - read more.

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.

Find out more

For insurance policies taken out before 23 January 2020, please see the details below.

Insurance (Prudential Supervision) Act 2010

MARAC Insurance Limited is exempt from the requirement to have a current Financial Strength Rating under s60(2A) of the Insurance Prudential Supervision Act 2010.

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 2023.

$000's Life (Statutory fund) Non-life Total
Audited 30 June 2023  
Actual Solvency Capital 119 6,214 6,333
Minimum Solvency Capital* 94 4,906 5,000
Solvency Margin 25 1,308 1,333
Solvency Ratio 127% 127% 127%

* An aggregate minimum of $5m applies to all companies writing life insurance.

Back to top TOP