Left to right: AM Best Regional Manager – Market Development (South Asia) Jonathan Wong, AM Best CEO & Managing Director (Asia-Pacific) Rob Curtis, and from MAAGAP Insurance, Inc.: Vice Chairman and Director Daniel Reymond, Director and Senior Advisor Daniel C. Go, Chairman Tunku Yacoob Khyra, Treasurer Mirafe Gabutan, President & CEO Martin Dela Rosa, Director Adelaida Gaborni, Independent Directors Maria Teresa Bossany and Anna Marie Periquet, and Directors Anand Kanagasingam and Evert De Bock.
Following its recent assessment by AM Best, MAAGAP Insurance Inc. has formally received its official ratings certificates from the global credit rating agency.
AM Best has assigned MAAGAP Insurance Inc. a Financial Strength Rating (FSR) of B+ (Good), a Long-Term Issuer Credit Rating (Long-Term ICR) of bbb- (Good), and a Philippine National Scale Rating (NSR) of aa.PH (Superior). The outlook assigned to all ratings is Stable.
The certification serves as an independent assessment of MAAGAP’s balance sheet strength, operating performance, business profile, enterprise risk management, and overall ability to meet its ongoing policyholder obligations. Receiving the rating certificate marks another milestone for the company as it continues to strengthen its business and build relationships with local and international partners.
During the presentation, AM Best CEO & Managing Director (Asia-Pacific) Rob Curtis said, ”Receiving an independent assessment from the world’s largest insurance rating agency brings standard business behavior and operational excellence into sharp focus. It enables MAAGAP to present an objective evaluation to external counterparties, bringing enormous brand recognition to the firm. We look forward to a long and successful business and ratings partnership.”
For additional information regarding the use and limitations of AM Best’s Credit Ratings, please visit www.ambest.com and refer to the Guide to Best’s Credit Ratings and Guide to Proper Use of Best’s Ratings & Assessments.