SINGAPORE, March 19 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of Energas Insurance (L) Limited (Energas) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.
Energas is the sole captive insurer of Petroliam Nasional Berhad (Petronas), Malaysia’s national oil and gas company.
The ratings reflect Energas’ balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
The ratings also incorporate Energas’ solid risk-adjusted capitalization, comprehensive reinsurance program and historically strong operating performance, evidenced by a five-year average combined ratio of approximately 53%.
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