Malayan Insurance continues to report good technical results for its motor business, which helps offset the unfavourable performance of its fire business, notes AM Best.
The insurer's overall underwriting performance has been hampered by volatility and unfavourable loss experience from its fire business over recent years, driven by catastrophe and large loss events.
Malayan Insurance, the biggest non-life insurer in the Philippines has reported a five-year average combined ratio and return-on-equity ratio of 99.9% and 4.6%, respectively (2016-2020), a performance which AM Best assesses as adequate.
Investment income, which is comprised of interest and dividend income, continues to be the principal contributor to Malayan’s overall earnings.
Source: asiainsurancereview.com
