Rating agency AM Best has affirmed the Performance Assessment of Delta Insurance New Zealand Limited (New Zealand) and Delta Underwriting Private Limited (Singapore) as PA-2 (Excellent).  

The companies are assessed on a consolidated basis under their parent, Delta International Limited (Delta), and the outlook of the assessment is stable. 

“This assessment reflects Delta’s strong underwriting capabilities, excellent governance and internal controls, strong financial condition, excellent organisational talent, and strong depth and breadth of relationships,” AM Best says. 

Delta was founded in 2014 with local ownership and operates from offices in New Zealand, Australia and Singapore. 

“Since launching in 2014, Delta has recorded profitable underwriting results across a variety of liability lines in the Asia Pacific region, along with property coverage only in New Zealand.  

“Underwriting capabilities are strengthened further from Delta’s in-house underwriting staff and claims handling. Delta has a well-developed technology base that provides insurance services and has allowed the organisation to increase its gross premium writings annually and expand coverage options.” 

AM Best considers Delta’s governance and internal controls to be excellent and its financial condition as strong.