SINGAPORE, April 3 (Bernama) -- A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of AMI Insurance Limited (AMI) (New Zealand). The outlook for both ratings is stable. Concurrently, A.M. Best has withdrawn the ratings in response to the company's request to no longer participate in A.M. Best's interactive rating process.
The rating affirmations reflect AMI's established business profile and good operating performance. The ratings also consider the support AMI receives from its parent company, IAG (NZ) Holdings Limited, in terms of risk management and strategic initiatives for business integration. These positive rating factors are partially offset by AMI's marginal risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio.
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