{"id":29962,"date":"2026-07-02T19:02:00","date_gmt":"2026-07-02T17:02:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=c171e6e93117a38849ec0976b8ca1a3b"},"modified":"2026-07-02T19:02:00","modified_gmt":"2026-07-02T17:02:00","slug":"am-best-affirms-credit-ratings-of-police-health-plan-limited","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=29962","title":{"rendered":"AM Best Affirms Credit Ratings of Police Health Plan Limited"},"content":{"rendered":"

SINGAPORE--(BUSINESS WIRE)--#insurance<\/a>--AM Best <\/b>has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of \u201ca-\u201d (Excellent) of Police Health Plan Limited (PHP) (New Zealand). The outlook of these Credit Ratings (ratings) is negative.<\/p><\/a><\/a>

\nThe ratings reflect PHP\u2019s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in a neutral impact from the company\u2019s ultimate ownership by the New Zealand Police Association (NZPA).<\/p>

\nThe negative outlooks reflect the ongoing pressure on PHP\u2019s balance sheet strength fundamentals. Whilst recent operating performance exhibited an improving trend, historical underwriting losses have resulted in capital erosion, and a material decline in risk-adjusted capitalisation.<\/p>

\nPHP\u2019s balance sheet strength assessment is underpinned by its strongest level of risk-adjusted capitalisation, as measured by Best\u2019s Capital Adequacy Ratio (BCAR). Notwithstanding, the company\u2019s BCAR scores exhibited a declining trend in fiscal-years 2024 and 2025, driven by operating losses. Prospective risk-adjusted capitalisation is expected to improve, supported by internal capital generation. In addition, the company has a modest capital base and limited financial flexibility, which increases the sensitivity of its capital adequacy to stress scenarios or fluctuations in performance. AM Best views the company\u2019s investment strategy to be low risk, with its investment portfolio consisting of cash and term deposits.<\/p>

\nAM Best assesses PHP\u2019s operating performance as adequate. Following portfolio remediation actions over recent periods, PHP reported improved operating performance metrics and returned to profitability in the first nine months of fiscal-year 2026. In fiscal-years 2024 and 2025, the company\u2019s underwriting performance was impacted by high claims inflation in the New Zealand health insurance industry. As a not-for-profit insurer, investment income remains a key contributor to overall earnings.<\/p>

\nPHP provides health insurance exclusively to current and former members of the New Zealand police and their families. Despite having a relatively small premium base in New Zealand\u2019s health insurance market, the company\u2019s business profile assessment factors in its high penetration rate within the police force and its close integration with the NZPA, which gives rise to synergy and efficiency benefits. PHP has preferential access to the NZPA member base, benefits from low distribution costs and shares overhead with the broader group.<\/p>

\nRatings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.<\/b><\/p>

\nThis press release relates to Credit Ratings that have been published on AM Best\u2019s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best\u2019s <\/b>Recent Rating Activity<\/b><\/a> web page. For additional information regarding the use and limitations of Credit Rating opinions, please view <\/b>Guide to Best\u2019s Credit Ratings<\/b><\/a>. For information on the proper use of Best\u2019s Credit Ratings, Best\u2019s Performance Assessments, Best\u2019s Preliminary Credit Assessments and AM Best press releases, please view <\/b>Guide to Proper Use of Best\u2019s Ratings & Assessments<\/b><\/a>.<\/b><\/p>

\nAM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit <\/b>www.ambest.com<\/b><\/a>.<\/b><\/p>

\nCopyright \u00a9 2026 by A.M. Best Rating Services, Inc. and\/or its affiliates. ALL RIGHTS RESERVED.<\/b><\/p> Contacts<\/b>

\nChee Yun<\/b>Financial Analyst<\/b>+65 6303 5019<\/b>chee.yun@ambest.com<\/a>\nYi Ding<\/b>Associate Director, Analytics<\/b>+65 6303 5021<\/b>yi.ding@ambest.com<\/a>\nChristopher Sharkey<\/b>Associate Director, Public Relations<\/b>+1 908 882 2310<\/b>christopher.sharkey@ambest.com<\/a>\nAl Slavin<\/b>Senior Public Relations Specialist<\/b>+1 908 882 2318<\/b>al.slavin@ambest.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

SINGAPORE–(BUSINESS WIRE)–#insurance–AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of \u201ca-\u201d (Excellent) of Police Health Plan Limited (PHP) (New Zealand). The outlook of these Credit Ratin…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29962","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/29962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29962"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/29962\/revisions"}],"predecessor-version":[{"id":29963,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/29962\/revisions\/29963"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}