Fitch Affirms MNRB's 'A' Rating
Fitch Affirms MNRB's 'A' Rating
KEY RATING DRIVERS
Fitch Ratings has affirmed Malaysian Reinsurance Berhad's (Malaysian Re) Insurer Financial Strength (IFS) rating of 'A' (Strong) with a Stable Outlook.
惠誉评级确认了马来西亚再保险有限公司（马来西亚再）的保险财务实力（IFS）评级为'A'（强），展望稳定。
The affirmation of the IFS rating reflects the company's commitment to maintaining a strong capitalisation and sustaining its financial and earnings performance. Malaysian Re is Malaysia's leading reinsurance company and is a wholly-owned subsidiary of MNRB Holdings Berhad (MNRB).
IFS评级的确认反映了公司致力于保持强大的资本充足率，并维持其财务和收益表现。马来西亚再是马来西亚领先的再保险公司，是MNRb控股有限公司（MNRB）全资子公司。
The afrmation reflects Malaysian Re's 'Moderate' company prole and 'Very Strong' capitalisation. It also takes into consideration challenges in managing potential volatility in underwriting performance as well as earnings dependence on local voluntary
cessions.
评级确认反映了马来西亚再的'中等'公司概况和'非常强'的资本充足率。它还考虑了管理承保业绩潜在波动的挑战，以及对当地自愿让渡的收益依赖。
让渡。
KEY RATING DRIVERS
Underwriting Performance Rebounds: Malaysian Re's underwriting performance improved sharply in the financial year ended 31 March 2024 (FY24), with an insurance/takaful service result of MYR341 million (FY23: loss of MYR2 million), driven by lower catastrophe losses. It has also benefitted from tighter underwriting practices and favourable pricing conditions in recent years. Net profit rose to MYR388 million, from MYR57 million in FY23, as higher investment income was weighed down by a
weaker insurance/takaful financial result.
主要评级驱动因素
承保业绩回升：马来西亚再的承保业绩在截至2024年3月31日的财务年度（FY24）大幅改善，保险/伊斯兰保险服务结果为MYR34100万（FY23：亏损MYR200万），这得益于自然灾害损失减少。近年来，它还受益于更严格的承保实践和有利的定价条件。净利润从FY23的MYR5700万上升至MYR38800万，虽然更高的投资收入受到影响。
较弱的保险/钱财照护财务结果。
