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Bulletin: NOHC Proposal Is Not Likely To Affect Suncorp-Metway Ltd.'s Group Ratings Oct 10 Product Image

Bulletin: NOHC Proposal Is Not Likely To Affect Suncorp-Metway Ltd.'s Group Ratings Oct 10

  • ID: 1953592
  • October 2010
  • Standard & Poors

FEATURED COMPANIES

  • AA Insurance Ltd.
  • AAI Ltd.
  • GIO General Ltd.
  • Suncorp-Metway Ltd.
  • MORE

Abstract
MELBOURNE (Standard & Poor's) Oct. 28, 2010--Standard & Poor's Ratings Services said today that Suncorp-Metway Ltd.'s (Suncorp's) announcement that it is planning a corporate restructure involving the creation of a non-operating holding company (NOHC) is not anticipated to affect the 'A+' ratings and stable outlooks on the Suncorp-Metway Ltd. group of companies. These entities include: Suncorp-Metway Ltd., Suncorp Metway Insurance Ltd., Suncorp Life and Superannuation Ltd., GIO General Ltd., Vero Insurance Ltd., Vero Insurance New Zealand Ltd., Vero Liability Insurance Ltd., and AA Insurance Ltd. The ratings are unlikely to change because the proposed restructure is not expected to significantly alter the group's activities, risk appetite, business and financial metrics (including capitalization) and policies and procedures. While the proposal simplifies...

Companies mentioned in this report are:
- Suncorp-Metway Ltd.
- GIO General Ltd.
- Suncorp Metway Insurance Ltd.
- Suncorp Life and Superannuation Ltd.
- AA Insurance Ltd.
- AAI Ltd.
- Vero Insurance New Zealand Ltd.
- Vero Liability Insurance Ltd.

Action: Bulletin

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Note: Product cover images may vary from those shown

- Suncorp-Metway Ltd.
- GIO General Ltd.
- Suncorp Metway Insurance Ltd.
- Suncorp Life and Superannuation Ltd.
- AA Insurance Ltd.
- AAI Ltd.
- Vero Insurance New Zealand Ltd.
- Vero Liability Insurance Ltd.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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