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AM Best Comments on Credit Ratings of The Hollard Insurance Company Pty Ltd

By   /  June 25, 2021  /  Comments Off on AM Best Comments on Credit Ratings of The Hollard Insurance Company Pty Ltd

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SINGAPORE–()–AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of The Hollard Insurance Company Pty Ltd (HIC) (Australia) remain unchanged following an announcement that its intermediate parent has successfully tendered to purchase the general insurance business, Commonwealth Insurance Limited, from Commonwealth Bank Ltd (CBA). The outlook of HIC’s Credit Ratings (ratings) is stable.

The transaction announced on 21 June 2021 involving Hollard Holdings Australia Pty Ltd (HHA), HIC’s intermediate parent, includes an exclusive 15-year strategic alliance between CBA and HHA to distribute home and motor products to CBA’s…



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