Trenwick International Limited, New Zealand Branch
("the company"), announced that as from 19 August
2002, the following rating downgrades had been issued by the rating agency AM Best Company, Inc.:
(a) On 19 August 2002, the financial strength rating
of "A- (Excellent) under review with negative implications" was issued to the company;
(b) On 18 October 2002, the financial strength rating
of the company was downgraded to "B+ (Very Good) under review with negative implications";
(c) On 14 November 2002, the financial strength rating
of the company was downgraded to "B- (Fair) under review with negative implications"; and
(d) On 12 December 2002, the company was issued with a financial strength rating of "NR-3 (Rating Procedure Inapplicable)".
Notes:
? AM Best Company, Inc. is an approved agency.
? This notice is published pursuant to the terms of the Insurance Companies (Ratings and Inspections) Act 1994.