SINGAPORE, April 3 (Bernama)-- A.M. Best has withdrawn the ratings of Farmers' Mutual Group (FMG) (New Zealand) as the company no longer carries any insurance liabilities.
FMG confirmed to A.M. Best on March 23, 2015, that all of its insurance liabilities and related assets have been transferred to FMG Insurance Limited (FMGIL), which is now the group's sole licensed insurer and will continue to focus on the same rural and farming risks. In anticipation of this event and considering that FMGIL's risk-adjusted capitalization is expected to remain strong, A.M. Best affirmed the financial strength rating of A (Excellent) and the issuer credit rating of "a" of FMGIL's ratings on Feb. 26, 2015. To view this press release, please visit FMGIL.
http://mrem.bernama.com/viewsm.php?idm=24161
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