Fitch Ratings tips downgrade for Co-op Insurance NZ

Wed, 18 Jul 2018

By Margreet Dietz July 19 (BusinessDesk) - Fitch Ratings flagged a downgrade for New Zealand-based Credit Union Insurance Ltd, trading as Co-op Insurance NZ, citing uncertainty about the proposed sale of the company's entire business book to Provident Insurance Corporation. The credit rating agency placed Co-op Insurance NZ's insurer financial strength rating of 'BBB-' (Good) on rating watch negative, from a previous rating watch evolving, Fitch Ratings Singapore analysts Siew Wai Wan and Christopher Han said in a statement. "The rati...

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