Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
AM Best gives excellent rating to Macau Insurance Company Limited
Last update: 03/09/2019

KUALA LUMPUR, Sept 3 (Bernama) -- AM Best has affirmed the Financial Strength Rating of A- (excellent) and the Long-Term Issuer Credit Rating of ‘a-’ of Macau Insurance Company Limited (MIC), Macau.

The stable outlook of these credit ratings reflects MIC’s balance sheet strength, which AM Best categorised as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

MIC’s balance sheet strength continues to be supported by its risk-adjusted capitalisation, which remains at the strongest level, as measured by Best’s Capital Adequacy Ratio.

The company’s capital and surplus strengthened significantly over the past two years following the sale of a life insurance subsidiary and a capital injection, according to a statement.

Its loss ratio has improved in 2018, mainly from reserve releases from prior year claims due to prudent reserving and underwriting controls. This has offset the upward pressure on the net expense ratio from increases in net acquisition costs and management expenses.

AM Best expects that as MIC continues to manage down its unprofitable portfolio, while pursuing profitable growth through its bancassurance and direct channels, the company’s underwriting and operating results will remain positive.

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. More information at www.ambest.com.

-- BERNAMA


 <Back>

Islamic Banking institutions urged to provide training to strengthen SME sector
Govt sets up special committee on Islamic Finance

 
Bank Muamalat's Mohd Arfaizal emerges champion of BNM's elocution contest

LIAM committed to increasing life insurance penetration rate
Govt likely to revise life insurance penetration rate target

 
LIAM appoints new president for 2019/2020 term

MIDDAY, TUESDAY, SEP 17
US 4.1780/1810
S'pore 3.0346/0379
100 Yen3.8621/8659
Sterling5.1853/1895
Euro 4.6000/6037
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
Yes
No
Not sure
 
  Main | News | Insurance

© 2019 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution