SINGAPORE, Feb 23 (Bernama-BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Energas Insurance (L) Limited (Energas) (Malaysia). The outlook of these Credit Ratings (ratings) is negative.
The ratings reflect Energas’ balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in the neutral impact from the parent, Petroliam Nasional Berhad (PETRONAS), which is the national oil and gas company of Malaysia.