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.
惠譽評級確認馬來西亞再保險有限公司（馬來西亞再保險）的保險財務實力（IFS）評級爲「A」（強），展望穩定。
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評級的確認反映了公司保持強大資本化並維持其財務和盈利能力的承諾。馬來西亞再保險是馬來西亞領先的再保險公司，並且是MNRb控股有限公司（MNRB）的全資子公司。
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.
這一確認反映了馬來西亞再保險的「適中」公司概況和「非常強」的資本化水平。同時，它也考慮了在承保業績管理中可能面臨的波動性挑戰，以及對當地自願讓步的盈利依賴。
讓步。
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.
關鍵評級驅動因素
承保業績回升：馬來西亞再保險在截至2024年3月31日的財年（FY24）中，承保業績大幅改善，保險/伊斯蘭保險服務收益爲MYR34100萬（FY23：虧損MYR200萬），得益於災害損失減少。近年來，公司也受益於更嚴格的承保實踐和有利的定價條件。淨利潤從FY23的MYR5700萬增長至MYR38800萬，儘管更高的投資收入受到了一定程度的影響。
保險/塔卡夫財務結果較弱.
