logo
AM Best Assigns Credit Ratings to Military Insurance Corporation

AM Best Assigns Credit Ratings to Military Insurance Corporation

Barnama21-07-2025
SINGAPORE, July 21 (Bernama) -- AM Best has assigned a Financial Strength Rating of B++ (Good), a Long-Term Issuer Credit Rating of 'bbb' (Good) and a Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) to Military Insurance Corporation (MIC) (Vietnam). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect MIC's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also factor in a neutral impact from the company's ultimate parent, Military Commercial Joint Stock Bank (MB).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Owners Must Settle All Dues Before Seized Luxury Cars Are Released
Owners Must Settle All Dues Before Seized Luxury Cars Are Released

Barnama

time4 minutes ago

  • Barnama

Owners Must Settle All Dues Before Seized Luxury Cars Are Released

KUALA LUMPUR, Aug 7 (Bernama) -- Owners of seized luxury vehicles must first settle all dues, including road tax, insurance and compounds, before their cars can be released, said Transport Minister Anthony Loke. He said the seizures were carried out under existing laws, with no exemptions, despite reports that some owners were willing to pay a RM300 fine as it was cheaper than the annual road tax. 'Vehicles that are seized due to expired road tax and insurance will only be released after all payments are settled. 'This includes road tax, insurance coverage, and compound fines. There are no shortcuts,' he told reporters after launching the Pandasafe programme by food delivery company Foodpanda today. Loke said many owners mistakenly believe that paying the RM300 compound is enough, stressing that strict enforcement is necessary to instil a sense of responsibility, particularly when it comes to road safety. Asked if the government plans to raise the compound for such offences, Loke said the Transport Ministry is reviewing the proposal, but any increase would require amendments to existing legislation. Loke also confirmed that the Road Transport Department (RTD) has been carrying out vehicle seizures as part of ongoing enforcement against non-compliant owners. Previously, it was reported that the RTD had identified more than 1,000 luxury vehicles in Malaysia with expired road tax for extended periods. Among the vehicles flagged were Ferraris, Lamborghinis and Porsches, some reportedly owned by celebrities and prominent business figures, who claimed the cars were only used as 'weekend cars'.

Owners must settle all dues before seized luxury cars are released
Owners must settle all dues before seized luxury cars are released

Sinar Daily

time21 minutes ago

  • Sinar Daily

Owners must settle all dues before seized luxury cars are released

Vehicles that are seized due to expired road tax and insurance will only be released after all payments are settled. 07 Aug 2025 04:28pm Loke said many owners mistakenly believe that paying the RM300 compound is enough, stressing that strict enforcement is necessary to instil a sense of responsibility, particularly when it comes to road safety. - Bernama photo KUALA LUMPUR - Owners of seized luxury vehicles must first settle all dues, including road tax, insurance and compounds, before their cars can be released, said Transport Minister Anthony Loke. He said the seizures were carried out under existing laws, with no exemptions, despite reports that some owners were willing to pay a RM300 fine as it was cheaper than the annual road tax. "Vehicles that are seized due to expired road tax and insurance will only be released after all payments are settled. "This includes road tax, insurance coverage, and compound fines. There are no shortcuts,' he told reporters after launching the Pandasafe programme by food delivery company Foodpanda today. Loke said many owners mistakenly believe that paying the RM300 compound is enough, stressing that strict enforcement is necessary to instil a sense of responsibility, particularly when it comes to road safety. Asked if the government plans to raise the compound for such offences, Loke said the Transport Ministry is reviewing the proposal, but any increase would require amendments to existing legislation. Loke also confirmed that the Road Transport Department (RTD) has been carrying out vehicle seizures as part of ongoing enforcement against non-compliant owners. Previously, it was reported that the RTD had identified more than 1,000 luxury vehicles in Malaysia with expired road tax for extended periods. Among the vehicles flagged were Ferraris, Lamborghinis and Porsches, some reportedly owned by celebrities and prominent business figures, who claimed the cars were only used as 'weekend cars'. - BERNAMA More Like This

Indonesia's copper export to the US gets zero tariff
Indonesia's copper export to the US gets zero tariff

The Star

time30 minutes ago

  • The Star

Indonesia's copper export to the US gets zero tariff

JAKARTA: Investment and Downstreaming Minister Rosan Roeslani confirmed that Indonesian copper will be subject to a zero-per cent import tariff in the United States, while negotiations continue to expand this exemption to other commodities, reported Antara news agency. "For copper, we get a 0 per cent tariff," Roeslani stated during the 2025 Indonesia-Japan Executive Dialogue here on Wednesday (Aug 6). The minister stated that Indonesia is still negotiating with the United States Trade Representative (USTR) to reduce import tariffs for other commodities, such as nickel and palm oil, and he expressed optimism about achieving favourable results for Indonesia. "We are negotiating (the tariff reduction) for other commodities. So far, we got (zero tariff) for copper, and other commodities such as nickel are likely to be approved, even if not at zero per cent, but at least lower than the current 19 per cent tariff," he remarked. According to Roeslani, Indonesia is also seeking a tariff-free status for other commodities that are not produced in the United States. Earlier, Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia is seeking tariff reductions on commodities including crude palm oil, rubber, shorea wood, and copper derivatives. In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the tariff, which was initially set at 32 per cent by President Donald Trump last April, to 19 per cent. In exchange, Indonesia has committed to purchasing US$15 billion in US energy products and US$4.5 billion in US agricultural products, according to the US president on July 16. Indonesia also intends to purchase 50 Boeing jets, mostly Boeing 777 passenger jets, Trump stated. No details were provided regarding which Indonesian parties would purchase the Boeing jets. - Bernama-Antara

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store