SINGAPORE, March 4 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed
the financial strength rating of A (Excellent) and the issuer credit
rating of “a” of Energas Insurance (L) Limited (Energas) (Malaysia). The
outlook for both ratings is stable. Energas is a sole captive of
Petroliam Nasional Berhad (Petronas), the national oil and gas company
of Malaysia.
The ratings reflect Energas’ strong risk-adjusted capitalization, which is supported by a comprehensive reinsurance program and prudent investment portfolio comprised solely of cash and cash equivalents. The ratings also consider Energas’ excellent earnings track record owing to an efficient operating structure and favorable claims experience. As an integral part of Petronas’ commercial operations, Energas is able to leverage Petronas’ market dominance, which has kept claims experience low.
http://mrem.bernama.com/viewsm.php?idm=26338
The ratings reflect Energas’ strong risk-adjusted capitalization, which is supported by a comprehensive reinsurance program and prudent investment portfolio comprised solely of cash and cash equivalents. The ratings also consider Energas’ excellent earnings track record owing to an efficient operating structure and favorable claims experience. As an integral part of Petronas’ commercial operations, Energas is able to leverage Petronas’ market dominance, which has kept claims experience low.
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