About Pacific International Insurance
Pacific International is a New Zealand insurance company registered
under the New Zealand Companies Act 1993 and operates from offices
in a building owned by the Company in the Harbour Side Business
Park Avondale Auckland. Pacific International has fully complied
with the New Zealand Insurance Companies Deposit Act 1953 and its
1982 and 1983 Amendments.
Pacific International Insurance is authorised by the Australian Prudential Regulation Authority (APRA) to conduct insurance business in Australia.
In addition to lodging yearly audited financial results with the
New Zealand Department of Inland Revenue Pacific International
is required, under Section 16(1) and the Second Schedule of the
Insurance Companies Deposits Act 1953, to lodge annual audited
financial accounts with the New Zealand Ministry of Economic Development.
Pacific International is subject to provisions of the New Zealand
Insurance Law Reform Act of 1977 and 1985.
Pacific International has a B+ (Good) Financial Strength Rating with a positive outlook from the USA Rating Agency A.M. Best. The rating is reviewed by A.M. Best on an annual basis. Pacific International has a panel of Reinsurance companies all of which have excellent rating positions in the A range both by A.M. Best and Standard & Poor’s.
Pacific International’s Solvency position in Australia at the 30th of June 2009 was 1.9018. That means the Company holds 1.9018 times the amount of assets required to be held in Australia by the Australian Prudential Regulation Authority (APRA) in addition to the Capital and Assets held in New Zealand.
The Company is subject to the New Zealand Disputes Tribunals
Act 1988. You may appeal any decision of Pacific International
to the New Zealand Disputes Tribunal. The decision of the Disputes
Tribunal is binding on Pacific International however, you may appeal
any decision.
Pacific International is a Member of the New Zealand Insurance Council (ICNZ), New Zealand Insurance Law Association Inc. (NZILA) and the Pest Management Association of New Zealand (PMANZ).
