SINGAPORE, March 25 (Bernama-BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Energas Insurance (L) Limited (Energas) (Malaysia). The outlook of these Credit Ratings (ratings) is stable. Energas is the sole captive insurer of Petroliam Nasional Berhad (Petronas), Malaysia’s national oil and gas company.
The ratings reflect Energas’ balance sheet strength, which AM Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). In addition, the ratings factor a neutral impact from the company’s 100% ownership and integration with Petronas.