In accordance with section 8(1) of the Insurance Companies (Ratings and Inspections) Act 1994, American International Assurance Company (Bermuda) Limited (New Zealand Branch)* and American Home Assurance Company
(New Zealand Branch)Å give notice that their respective insurer financial strength rating was downgraded to
"A+ (credit watch negative)" by approved rating agency Standard and Poor's (Australia) Pty. Ltd as at 15 September 2008.
On 17 September 2008, that rating was changed to
"A+ (credit watch developing)".
Note: The rating scale, of which ratings form part, is available for inspection at any New Zealand office of AIG Life or AIG New Zealand.
*AIG Life is the trading name of American International Assurance Company (Bermuda) Limited (New Zealand Branch), specialising in life insurance.
ÅAIG New Zealand is the trading name of American Home Assurance Company (New Zealand Branch), operating in the general insurance market.