AM Best affirms Malayan Insurance’s stability rating

MALAYAN Insurance Co. Inc. remains ahead in the non-life insurance industry as global insurance ratings company AM Best reaffirms its stability for 2020, reflecting the insurer’s strength and reliability in the Philippine market in spite of the worldwide pandemic and its effects on the country’s economy.

The Yuchengco-led insurance company has retained its financial strength rating at B++ and its longterm issuer credit rating at “bbb+,” according to AM Best.

“The ratings reflect Malayan Insurance’s balance sheet strength, which AM Best categorizes as very strong,” said AM Best in a statement.

Founded in 1899, AM Best is the world’s oldest and most authoritative insurance rating and information source.

Malayan Insurance is the only non- life insurer in the country rated by AM Best, standing as a testament to both the company’s strength as well as its dedication to provide world-class protection to its wide customer base.

The non-life insurer is a leader in terms of providing property insurance, motorcar insurance, accident and health insurance, casualty and liability insurance and marine and aviation insurance as well as surety and bonds.

The company’s lead in the market is also evident in the Insurance Commission’s latest released rankings, stating that Malayan Insurance ranks first in terms of gross premiums written for the year 2019, amounting to P12.25 billion, the highest in the industry.