NZ-wide maintenance: 24-25 October 2026
Due to industry-wide scheduled maintenance, payments sent from one NZ bank to another will be delayed between 10.45pm this Saturday 24th October and 12.00pm Sunday 25th October. These will be processed from 12.00pm on Sunday. Payments between Co‑operative Bank accounts and those to BNZ accounts are unaffected.
Co‑operative Life Limited, a wholly owned subsidiary of The Co‑operative Bank, has a current financial strength rating of "Secure" B++ (Good) from A.M. Best Company Inc, an approved Reserve Bank of New Zealand rating agency. This is a “Secure” rating. The A.M. Best rating scale is:
Secure: A++, A+ (Superior) | A, A- (Excellent) | B++, B+ (Good)
Vulnerable: B, B- (Fair) | C++, C+ (Marginal) | C, C- (Weak) | D (Poor) | E (Under Regulatory Supervision) | F (In Liquidation) | S (Suspended)
For more information on ratings, visit ambest.com.
This rating scale should not be read as recommendation.
Financial strength rating
B++
FROM A.M. BEST COMPANY
| Statutory Fund $'000 | Shareholder Fund $'000 | Total for Co‑operative Life $'000 | |
|---|---|---|---|
| Solvency Capital | 13,339 | 7,668 | 21,007 |
| Minimum Solvency Capital | 10,060 | 263 | 10,323 |
| Solvency Margin | 3,279 | 7,405 | 10,684 |
| Solvency Ratio | 133% | 2,916% | 203% |
Other insurer financial strength ratings
The Co‑operative Bank has arranged other insurances underwritten by third party suppliers. These include:
- Asset Care Home, Contents, Vehicle and Boat insurance cover underwritten by IAG New Zealand Limited (“IAG”). Click here for IAG’s financial strength rating.
The Co‑operative Bank (and its subsidiaries) accepts no responsibility for the availability or content of any third party websites and makes no representation as to the accuracy or currency of the materials.