SINGAPORE, March 25 (Bernama-BUSINESS WIRE) -- A.M. Best has
affirmed the financial strength rating of B (Good) and the issuer
credit rating of “bbb ” of Malayan Insurance Co., Inc. (MICO)
(Philippines). The outlooks on both ratings remain stable.
The ratings reflect MICO’s strong risk-adjusted capitalization and its business profile in the Philippine non-life insurance market.
MICO’s risk-adjusted capitalization is strong and supported by its low underwriting leverage. MICO manages credit risk by maintaining a panel of strongly rated reinsurance counterparties. MICO has a strong profile in the corporate segment of the Philippine non-life market and ranks as the largest in terms of premiums and second largest in terms of capital and surplus. MICO’s profile helped the company to achieve strong growth in its motor portfolio in 2014 and 2015.
http://mrem.bernama.com/viewsm.php?idm=26460
The ratings reflect MICO’s strong risk-adjusted capitalization and its business profile in the Philippine non-life insurance market.
MICO’s risk-adjusted capitalization is strong and supported by its low underwriting leverage. MICO manages credit risk by maintaining a panel of strongly rated reinsurance counterparties. MICO has a strong profile in the corporate segment of the Philippine non-life market and ranks as the largest in terms of premiums and second largest in terms of capital and surplus. MICO’s profile helped the company to achieve strong growth in its motor portfolio in 2014 and 2015.
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