Malayan Insurance Co. Inc. said it has received a reaffirmation of its financial strength rating (FSR) of B++ (Good) from AM Best, marking the 21st consecutive year the company has held the rating.
The insurer also maintains a Philippines National Scale Rating (NSR) of aa+.PH (Superior).
It said while the outlooks for Malayan have been revised to negative from stable, this reflects recent industry-wide factors, including volatility in underwriting performance.
Malayan chief executive Paolo Abaya attributed these pressures to an increase in natural catastrophes affecting the insurance sector. “Malayan remains fully committed to navigating these conditions with resilience and strategic agility,” he said.
Despite the revised outlook, Malayan said it has a track record of positive overall earnings, with investment income as a principal contributor to its profitability. AM Best noted that the company’s risk-adjusted capitalization is expected to remain at its strongest level over the medium term.
