- Release Date: 28/07/14 08:30
- Summary: CREDIT: TWR: TOWER Group Credit Ratings Affirmed
- Price Sensitive: No
- Download Document 1.77KB
TWR 28/07/2014 08:30 CREDIT REL: 0830 HRS Tower Limited CREDIT: TWR: TOWER Group Credit Ratings Affirmed 28 July 2014 For immediate release Market Information NZX Limited Level 2, NZX Centre 11 Cable Street Wellington New Zealand Company Announcements Office Australian Securities Exchange Limited Exchange Centre Level 6, 20 Bridge Street Sydney NSW 2000 Australia TOWER Group Credit Ratings Affirmed (Auckland, NZ) Global insurance company ratings specialist A.M. Best Company has affirmed its financial strength ratings of companies in the TOWER Limited Group as set out below: - TOWER Insurance Limited: financial strength rating A- (Excellent) Issuer credit rating a- - TOWER Life (N.Z) Limited: financial strength rating A- (Excellent) Issuer credit rating a- - TOWER Limited issuer credit rating bbb- (Good) A copy of the A.M. Best news release is attached. "We welcome the affirmation of our A- (Excellent) rating from A.M. Best Company, which supports the confidence our customers have in TOWER's stability and security, and maintains our respected financial position with our reinsurers," said TOWER Chief Executive Officer David Hancock. In its announcement, A.M. Best Company noted that the ratings of TOWER Insurance reflect the company's adequate risk-adjusted capitalisation and the benefits it receives from improving conditions for direct insurers in New Zealand. A.M. Best Company also said the company was showing good new business profitability. ENDS David Hancock Chief Executive Officer TOWER Limited ARBN 088 481 234 Incorporated in New Zealand For further information, please contact: Tracey Palmer Head of Corporate Communications TOWER Limited Tel: + 64 21 837 860 Email: [email protected] End CA:00253130 For:TWR Type:CREDIT Time:2014-07-28 08:30:06
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