A.M. Best Withdraws Ratings of Farmers’ Mutual Group

SINGAPORE--(BUSINESS WIRE)-- A.M. Best has withdrawn the ratings of Farmers’ Mutual Group (FMG) (New Zealand) as the company no longer carries any insurance liabilities.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.

Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.

This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit A.M. Best’s Ratings & Criteria Center.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

A.M. Best Co.
Chi-Yeung Lok
Senior Financial Analyst
+(65) 6589 8400, ext. 211
[email protected]
or
Moungmo Lee
General Manager
+(65) 6589 8400, ext. 210
[email protected]
or
Christopher Sharkey
Manager, Public Relations
+(1) 908 439 2200, ext. 5159
[email protected]
or
Jim Peavy
Assistant Vice President, Public Relations
+(1) 908 439 2200, ext. 5644
[email protected]

Source: A.M. Best Co.

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