Fitch Ratings affirms Malaysian Re's rating

Fitch Ratings has confirmed the “A” (strong) financial strength rating of Malaysian Reinsurance Berhad (Malaysian Re). The outlook is stable.

The rating reflects the reinsurer's moderate business profile and very strong capitalization. In fiscal year 2024, Malaysian Re posted a net profit of 388 million MYR (82.1 million USD), against 57 million MYR (12.9 million USD) a year earlier.

Insurance service result also improved to reach 341 million MYR (72.1 million USD) compared to a loss of 2 million MYR (451 970 USD) in fiscal year 2023.