Notice Title

Insurer Financial Strength Rating Change-American Home Assurance Company (New Zealand Branch)

In accordance with section 8(1) of the Insurance Companies (Ratings and Inspections) Act 1994, American Home Assurance Company (New Zealand Branch) gives notice that its insurer financial strength rating was downgraded
to "A" by approved rating agency Standard and Poor's (Australia) Pty. Ltd as at 1 March 2011.