Notice Type
General Notices
GIO Rating Review Following the recent announcement of GIO's financial result, influenced by the reinsurance operation, a review has been undertaken by the rating agency Standard & Poor's of GIO's 2 commercial insurance activities in New Zealand. Standard & Poor's has agreed in principle to the rating of GIO General New Zealand Limited to A+ (strong). GIO General Limited, with a rating of A+ (strong) will absorb any new business or renewals that would ordinarily have been underwritten by GIO Insurance Limited (New Zealand Branch), which company was regraded to BBB+ (good) by Standard & Poor's on the 17th day of August 1999. Standard & Poor's has also announced a credit watch negative.
Publication Date
9 Sep 1999

Notice Number

1999-gn6449

Page Number

2724