SINGAPORE, Nov 17 (Bernama-BUSINESS WIRE) — AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Etiqa General Insurance Berhad (EGIB) (Malaysia). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect EGIB’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also factor in a neutral impact from the company’s ultimate majority ownership by Malayan Banking Berhad (Maybank group), one of the largest financial services groups incorporated, listed and domiciled in Malaysia.