SINGAPORE--(BUSINESS WIRE)--A.M. Best has withdrawn the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of New Zealand Local Government Insurance Corporation Limited (New Zealand), also known as Civic Assurance (Civic).
Civic’s provisional license has been cancelled by The Reserve Bank of New Zealand under the Insurance (Prudential Supervision) Act 2010. Because the company is no longer providing insurance coverage in New Zealand, the associated ratings have been withdrawn for administrative purposes.
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