Civic Assurance ratings under review

Credit rating agency AM Best has placed under review with negative implications ratings of the New Zealand Local Government Insurance Corp, which trades as Civic Assurance.

AM Best today said it was reviewing Civic's financial strength rating of A (excellent) and its issuer credit rating of a.

The move reflected concerns about the downgrading of one of Civic Assurance's reinsurers and the resultant impact on Civic's capitalisation, AM Best said.

The company's ratings were expected to remain under review while AM Best's discussions continued with management regarding further reinsurance arrangements, loss development and capital management.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

RAK - 1H26: Strong first half growth and strategic momentum
Green Cross Health Interim Results to 30 September 2025
Devon Funds Morning Note - 28 November 2025
November 28th Morning Report
Pacific Edge Appoints Chief Commercial Officer
Ryman Healthcare reports 1H26 results
Tower reports record FY25 result, increased dividends
NZ King Salmon Investments Ltd releases FY25 (Sept) results
RBNZ - OCR lowered to 2.25%
SVR - Savor Interim Results and Trading Update