Wednesday, July 27, 2016

Fitch Downgrades 7 Asian Insurers After Sovereigns Criteria Review

(The following statement was released by the rating agency)

SINGAPORE/HONG KONG, July 27 (Fitch) Fitch Ratings has

downgraded the Insurer

Financial Strength (IFS) ratings of seven insurance companies in

Asia by one

notch. The Outlook on these ratings is Stable.

The seven Asian insurers are:

- Etiqa Insurance Berhad (EIB)

- Etiqa Takaful Berhad (ETB)

- Etiqa Insurance Pte Ltd (EIPL)

- Malaysian Reinsurance Berhad (Malaysian Re)

- Muang Thai Life Assurance Public Company Limited (MTL)

- Thai Lif

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