MANILA, Philippines - Non-life insurance industry leader Malayan Insurance Co. has garnered a new rating from global credit ratings leader Standard & Poor’s (S&P). Based on S&P’s rating of axBBB, Malayan Insurance is considered capable of meeting its financial obligations.
S&P explained that an insurer rated “axAA” has a “strong capacity to meet its financial commitments while an insurer rated “axA” has a high capacity to meet its financial obligations but is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than higher-rated obligors.
An insurer rated axBBB has a reasonably adequate capacity to meet its financial commitments relative to that of other Asean obligors. These standings are based on S&P’s new ASEAN regional credit ratings scale exclusively applied to issuers located in South East Asia.