New Zealand Limited
Pursuant to clause 8 (1) of the Insurance Companies (Ratings and Inspections) Act 1994, on 14 November 2001, Standard & Poor's re-rated GIO General New Zealand Limited's "financial strength" to "A+".
This is one rung lower than its previous rating of "AA-", and moves the company from the bottom of the "very strong" to the top of the "strong" range.
This new rating follows the equivalent re-rating of its parent company Royal & SunAlliance (New Zealand) Limited.
Standard & Poor's commented that the "A+" rating of the Royal & SunAlliance Group reflected its strong capitalisation, excellent global market position, improved earnings and robust financial flexibility.
Note: This notice appears as a matter of public record.