SINGAPORE, June 13 (Bernama-BUSINESS WIRE) — AM Best has withdrawn the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” (Fair) of Accuro Health Insurance Society Limited (Accuro) (New Zealand) as the company no longer operates as an insurance company. At the time of the withdrawal, these Credit Ratings (ratings) were under review with developing implications.
On 31 May 2024, Accuro transferred its insurance portfolio to Union Medical Benefits Society Limited (UniMed). Immediately after this, the Reserve Bank of New Zealand canceled Accuro’s insurance license and Accuro no longer operates as an insurance company.