Best Places Ratings of NZ Insurers Credit & General and Consumer Insurance Under Review

December 23, 2003

A.M. Best Co. announced that it has placed the financial strength rating of "A" (Excellent) of New Zealand's Credit & General Insurance Limited (CGI) and the financial strength rating of "A-" (Excellent) of Consumer Insurance Services Limited (CISL) under review with developing implications.

Best said its rating actions "follow the acquisition of the consumer finance operations of Farmers Holdings Limited by Fisher & Paykel Appliances Holdings Limited, the respective parent companies of CGI and CISL."

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