Partners

Crombie Lockwood maintains Strategic Partnerships with New Zealand's leading insurers:

ACE Insurance Limited - Rated "A+" by Standard and Poor's and AM Best as of 4 June 2008

"ACE and Crombie Lockwood work as a team to manage clients' risks, leaving them free to embrace new challenges and opportunities." Richard Parkinson, Managing Director

Lumley General Insurance (N.Z.) Limited - Rated "A-" by Standard and Poor's on 7 November, 2008

"Crombie Lockwood has clearly developed one of the largest and most successful national networks in the country..." John Lyon, CEO

NZI - Rated "AA-" by Standard and Poor's on 3 November, 2008

"Crombie Lockwood is the longest established broker in New Zealand - that alone makes us natural partners. Added to that is our joint commitment to protect not only New Zealand businesses but also the effort, sacrifice and success those businesses represent for their owners." Karl Armstrong, Executive General Manager

QBE Insurance (International) Ltd - Rated "A+" by Standard and Poor's on 5 December, 2008

"QBE Insurance is proud to be a strategic partner in Crombie Lockwood's aspiration to provide the complete insurance solution." Ross Chapman, General Manager New Zealand Operations

Vero Insurance New Zealand Limited - Rated "A+" by Standard and Poor's on 8 January 2009

"Crombie Lockwood can be very demanding on behalf of their clients...." Roger Bell, Chief Executive

Zurich New Zealand - Rated "A+" by Standard and Poor's on 17 December 2008

"Zurich and Crombie Lockwood share a passion for thinking outside the square and striving to create innovative ways to deliver their aspiration to clients." Mike Poole, Country Manager

Partners outside of NZ

Offshore Market Placements Limited (OMPL) specialises in placement of insurance outside NZ, principally at Lloyd's of London where the company is an approved Coverholder, with Authority to accept risk and pay claims on behalf of the various Lloyd's Syndicates.

Crombie Lockwood uses OMPL as an alternative to the local insurance market, when sourcing the best product and coverage for their clients. Business transacted includes standard insurance covers as well as some specialist covers such as Fine Art, Film, Aviation and Contingency insurance.

Lloyd's of London is the oldest and most significant insurance marketplace in the world and consists of approximately 70 companies and syndicates, ranging from the world's largest to niche providers.

All the insurance companies OMPL places cover with carry a minimum of an A Rating from the main rating agencies: Standard & Poor's, AM Best, Moody's or Fitch Ratings.

Offshore Market PLacements Limited is a wholly owned subsidiary company of Monument Insurance (NZ) Limited, a Crombie Lockwood group company.

Understanding Insurer Ratings

Each insurer is required by law to publish the company's current rating for Financial Strength & Claims Paying Ability. This rating relates purely to the organisation's financial resources and a strong rating does not necessarily indicate a greater inclination to settle claims - only their financial ability to do so.

The most often quoted ratings system is operated by Standard & Poors and is based on the following scale:

AAA - Superior

AA - Excellent

A - Good

BBB - Adequate

BB - May be Adequate

B - Vulnerable

CCC - Extremely Vulnerable

R - Regulatory Action

Note: Plus (+) or Minus (-). The ratings from ‘AA' to ‘B' may be modified by the addition of a ‘plus' or ‘minus' sign to show relative standing within the major ratings categories.The current S&P rating for recommended underwriters will always be included in our report and recommendations.