Malayan Insurance gets “stable” rating


Malayan Insurance Co., Inc. remains ahead in the non-life business as global insurance ratings firm A.M. Best improved the local insurer’s credit rating outlook to “stable.”

Despite the global pandemic and its effects on the Philippine economy, the Yuchengco-led insurance company said it received an improved outlook from A.M. Best, reflecting Malayan’s strength and reliability in the market.

Malayan also retained its Financial Strength Rating at “B++” (Good) and its long-term issuer credit rating at “bbb+.”

“The ratings reflect Malayan’s balance sheet strength, which A.M. Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management,” the insurance ratings firm said in a statement.

A.M. Best further noted that the Malayan’s risk-adjusted capitalization is expected to remain at the strongest level.

A.M. Best ratings stand as a testament to both the Malayan’s strength, as well as its dedication to provide world-class protection to its wide customer base, the company said.

Malayan is the country’s leader in property insurance, motorcar insurance, accident and health insurance, casualty and liability insurance, marine and aviation insurance, as well as surety and bonds.

Based on the Insurance Commission’s latest release rankings based on a compilation of unaudited reports submitted for 2020, the gross premiums written of Malayan amounted to P14.21 billion, the highest in the industry.

Founded in 1930, Malayan Insurance is a member of the Yuchengco Group of Companies (YGC).

A.M. Best is a global authority for rating of insurance companies, worldwide.

Founded in 1899, A.M. Best is the world’s oldest & most authoritative insurance information source. Malayan Insurance is the first Filipino non-life insurer to be rated by the insurance rating agency in the country.