RAM Ratings has lifted the developing Rating Watch on Hong Leong Assurance Berhad’s (HLA) ratings. Concurrently, we have reinstated the stable outlook on the ratings. This follows an announce

Published on 08 November 2016

RAM Ratings has lifted the developing Rating Watch on Hong Leong Assurance Berhad’s (HLA) ratings. Concurrently, we have reinstated the stable outlook on the ratings. This follows an announcement on 4 November 2016 that HLA Holdings Sdn Bhd (HLAH) and Hong Leong Financial Group Berhad had failed to reach an acceptable agreement with Bank Negara Malaysia-approved negotiating parties, on the proposed divestment of HLAH’s equity interest in HLA and Hong Leong MSIG Takaful Berhad. The parties had therefore mutually agreed to cease negotiations.

	Previous Rating(s)	Current Rating(s)
Insurer Financial Strength Ratings	AA2/P1/RW_Developing	AA2/Stable/P1
RM500 million Subordinated Notes Programme (2013/2025)	AA3/RW_Developing	AA3/Stable

Analytical contact                                        Media contact
Siew Shwu Ying                                             Padthma Subbiah
(603) 7628 1071                                             (603) 7628 1162
shwuying@ram.com.my                                 padthma@ram.com.my