Malayan Insurance Co., Inc. again secured its position as one of the country’s most stable insurers, with AM Best reaffirming its Financial Strength Rating (FSR) of B++ (Good) and a National Scale Rating (NSR) of aa+.PH (Superior) for the 21st consecutive year.
The ratings reflect Malayan’s strong balance sheet, robust enterprise risk management, and solid capital base. Despite a revised outlook from stable to negative—due to broader industry pressures and underwriting volatility—Malayan continues to deliver positive overall earnings, largely supported by investment income.
CEO Paolo Y. Abaya acknowledged the impact of increased natural catastrophes on the sector but emphasized the company’s commitment to resilience and strategic agility. He noted that ongoing portfolio remediation efforts are underway to improve underwriting profitability.
As one of the country’s largest non-life insurers, Malayan is also accelerating its digital transformation as part of its long-term growth strategy amid a shifting insurance landscape.
