Change of Rating
Standard and Poor's (Australia) Pty. Limited has lowered the ratings on the core underwriting entities of QBE Insurance Group Limited to "A" from "A+" and placed the ratings on CreditWatch with "negative implications" following assessment of the Group's exposure to the World Trade Centre disaster.
This rating applies from 19 September 2001.
This rating is available for inspection from any QBE Insurance office in New Zealand.
This rating applies to QBE Insurance (International) Limited which operates in New Zealand by way of a branch.
This notice is made pursuant to the Insurance Companies (Ratings and Inspections) Act 1994.