HONG KONG--(BUSINESS WIRE)--A.M. Best Asia-Pacific Limited has withdrawn the financial strength rating of A- (Excellent) and issuer credit rating of “a-” of TOWER Health & Life Limited (THL) (New Zealand).
THL no longer carries any insurance risk following the sale of all business to Fidelity Life Assurance Company Limited. THL’s provisional license to carry life insurance business was cancelled on August 26, 2013.
The methodology used in determining these interactive ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.
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