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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



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