AM Best goes negative on Tower

AM Best has changed its review status on the ratings of Tower
Insurance Limited to negative after regulatorsblocked the proposed takeover of the New Zealand insurer by
Suncorp late last month.
AM Best said it had revised the implications of the "under
review" status to negative on the A- financial strength and a-
long-term credit ratings of the operating company and the bbb-
long-term credit rating of parent Tower Limited.
The change to negative came in response to the...