AM Best has placed Labuan Reinsurance (L) Ltd’s (Labuan Re) (Malaysia) Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent) under review with developing implications.
This action follows the announcement on 19th May 2026 that MNRB Holdings Berhad (MNRB) entered into a conditional share purchase agreement to acquire an 80% equity interest in Labuan Re for approximately $100.69 million.
Malaysian Reinsurance Berhad (Malaysian Re), MNRB’s wholly owned subsidiary, currently holds a 20% equity stake in Labuan Re.
Upon completion of the transaction, Malaysian Re will retain its existing 20% stake, while MNRB will hold the remaining 80%, resulting in Labuan Re becoming a wholly owned subsidiary of MNRB. The transaction is expected to be completed in Q4 2026.
The ratings will remain under review with developing implications pending completion of the transaction and AM Best’s assessment of Labuan Re’s credit rating fundamentals following the acquisition.
