HONG KONG, March 30 (Bernama) -- A.M. Best has affirmed the financial strength rating of B++ (Good) and the issuer credit rating of “bbb+” of Malayan Insurance Co., Inc. (MICO) (Philippines). The outlook for both ratings is stable.
The
ratings reflect MICO’s solid risk-adjusted capitalization, consistently
favorable investment performance and leading position in the Philippine
non-life insurance market. The ratings also recognized the continued
parental support from Yuchengco Group in terms of distribution.
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