A.M. Best Affirms Ratings Of Energas Insurance (L) Limited

KUALA LUMPUR, March 27 (Bernama) -- 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' ratings reflect its strong capitalization, comprehensive reinsurance protection and role as the sole captive insurance carrier for its ultimate parent, Petroliam Nasional Berhad (Petronas), an integrated global oil and gas company. Full profit retention in the absence of dividend payments to Petronas has enabled Energas to grow its capital favorably since inception.

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