AM Best Affirms Credit Ratings of Misr Life Insurance Company
AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good) and the Egypt National Scale Rating (NSR) of aaa.EG (Exceptional) of
The ratings reflect MLIC’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also benefit, in form of a lift, from MIHC’s financial strength, due to MLIC’s strategic importance to the group.
MLIC’s risk-adjusted capitalisation remained at the strongest level at fiscal year-ended
MLIC has a track record of strong operating performance, as demonstrated by a five-year (2019-2023) weighted average return on equity (ROE) of 18.3%. Overall performance has been consistently strong in recent years, and MLIC reported an ROE of 18.2% for the fiscal-year 2023.
MLIC has an excellent position in its domestic market. The company’s gross written premium increased by 1.9% during fiscal-year 2023 to
MLIC is exposed to the high economic, high political and very high financial system risks associated with operating in
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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Source: AM Best
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