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| FITCH AFFIRMS ‘A-‘ IFS RATING TO MALAYSIAN REINSURANCE BERHAD |
9 Jun 2009 |
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PRESS RELEASE IMMEDIATE RELEASE
Kuala Lumpur,
9 June 2009 – Fitch Ratings has affirmed the ‘A-‘ (A minus) Insurer Financial
Strength (IFS) rating to Malaysian Reinsurance Berhad (Malaysian Re) yesterday.
Fitch Ratings also confirmed the outlook for the rating remains Stable.
The rating incorporates the Company’s dominant position in the Malaysian
market, its maintenance of a healthy capital position, and prudent
management.
A copy of the Press Release issued by Fitch Ratings dated 8
June 2009 is attached.
Malaysian Re is Malaysia’s
leading reinsurance company and is a wholly-owned subsidiary of MNRB Holdings
Berhad (MNRB). It is principally an underwriter of general reinsurance business,
through proportional and non-proportional treaty reinsurance and facultative
reinsurance. The company also actively participates in various local industry
initiatives, which has helped to strengthen its relationships with domestic
insurance companies.
Fitch Ratings is a leading global rating agency
with dual-headquarters in New York and
London covering
entities in more than 90 countries, including IFS ratings on over 2,000
insurance companies. Fitch Ratings first rated Malaysian Re in
2006.
Malaysian Re had also received, on 20 November 2008, similar
affirmation from A.M. Best Co. of an “A-“ (Excellent) Financial Strength Rating
and an Issuer Credit Rating of “a-“.
-end-
For further
enquiries, kindly contact Puan Noorazimah Tahir (Azie), Vice President &
Head of Corporate Communications at Tel No: 03-2096 8120, Fax: 03-2096 7000 or
e-mail to azie@malaysian-re.com.my
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| Malaysian Re Press Release 8 June 2009
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