Malayan Insurance Maintains B++ Rating – Manila Bulletin


Malayan Insurance maintains its B++ rating

Malayan Insurance Co. Inc. (Malayan Insurance) maintained its AM Best Financial Strength Rating of B++ (good) and Issuer Long-Term Credit Rating of “bbb+” (good) in 2022.

The Yuchengco-led insurance company also maintained its “stable” credit rating outlook despite the continued impact of the pandemic on the Philippine economy.

“These ratings reflect Malayan’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operational performance, neutral business profile and appropriate management of business risks,” it said.

The ratings underscored Malayan’s financial solvency and highlighted its claims-paying capacity and ability to service its debts.

Malayan Insurance Chairman and CEO Paolo Y. Abaya said recent credit ratings testified to its stability and reliability.

“In addition to providing relevant insurance products, our organization remains robust and resilient so that we are always ready to protect the lives and assets of our compatriots,” Abaya added.

Known as a global authority on the rating of insurance companies, AM Best also noted that the non-life insurer’s risk-adjusted capitalization has bolstered the strength of its balance sheet and forecast that it will remain at the highest level. high over the medium term, as measured by Best’s capital adequacy ratio. (BCAR).

The company’s overall underwriting performance was mainly driven by its motor insurance line. While investment income remained the main contributor to its overall profits.

Founded in 1930, Malayan Insurance is a member of the Yuchengco group of companies, one of the largest conglomerates in the Philippines.




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