SINGAPORE, March 11 (Bernama-BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of TOWER Insurance Limited (TIL) (New Zealand). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” of TIL’s ultimate parent, TOWER Limited (TL) (New Zealand). The outlook of these Credit Ratings (ratings) remains stable.
The ratings reflect TIL’s balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.