Fitch Ratings Etiqa Insurance Berhad financial strength rating at A
Fitch Ratings Etiqa Insurance Berhad financial strength rating at 'A' : Fitch Ratings has affirmed Malaysia-based Etiqa Insurance Berhad's insurer financial strength rating at 'A' with stable outlook. Fitch says the rating reflects EIB's broad distribution coverage, strong premium growth, a track record of sound operating performance and its status as a core member within Maybank Ageas Holdings Berhad (MAHB) . The rating recognises the company's solid risk-based capitalisation and strong liquidity position despite likely higher financial leverage after the proposed issue of subordinated debt in April 2013. Fitch says EIB continues to maintain strong premium growth momentum through its bancassuance partnership with Malayan Banking Berhad (Maybank) and through its wide agency coverage across Malaysia. Premium written from general and life insurance operations grew 18% and 88%, respectively, for the 12 months ended June 2012. Motor insurance and marine, aviat...