Kuala Lumpur: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of ‘a’ (Excellent) for Energas Insurance (L) Limited (ENERGAS) in Malaysia. The outlook for these credit ratings remains negative.
According to BERNAMA News Agency, the ratings reflect ENERGAS’ balance sheet strength, which AM Best assesses as very strong. The ratings also consider the company’s strong operating performance, neutral business profile, and appropriate enterprise risk management. Additionally, the ratings take into account a neutral impact from its parent company, Petroliam Nasional Berhad (PETRONAS), Malaysia’s national oil and gas company.