Malayan Insurance retains stable rating

MANILA, Philippines — Global insurance rating firm AM Best  has affirmed its stability rating for Malayan Insurance, reflecting the insurer’s strength and reliability in the Philippine market.

The insurance company has retained its financial strength rating at B++ (Good) while its issuer credit rating is retained at “bbb+” with a stable outlook for both categories, according to AM Best.

The rating reflects Malayan’s balance sheet strength, which AM Best categorized as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

It further noted that the company manages credit risk by maintaining a panel of strongly rated reinsurance counterparties and that it has a strong profile in the corporate segment of the Philippine non-life market, ranking as the largest in terms of premiums and second largest in terms of capital and surplus.

This lead in the insurance market is also evident in the Insurance Commission’s rankings released in 2017, stating that the company remains number one in terms of gross premiums written  and net premiums written for 2016.

Malayan Insurance is the only non-life insurer in the country rated by AM Best, standing as a testament to both the company’s strength, as well as its dedication to provide world-class insurance protection to its wide customer base.

 Founded in 1930, Malayan Insurance is a member of the Yuchengco Group of Companies (YGC),  one of the largest conglomerates in the Philippines, with core businesses in financial services, banking, investments, construction, education and energy.