AM Best has reviewed Labuan Reinsurance (L) Berhad (Labuan Re) (Malaysia)’s A- (Excellent) financial strength rating and ‘a-‘ (Excellent) long-term issuer credit rating with profound implications.
Prior to this action, MNRB Holdings Berhad (MNRB) announced on 19 May 2026 that it had entered into a conditional share purchase agreement to acquire 80% of Labuan Reinsurance for approximately US$100.69 million.
Malaysian Re, a wholly-owned subsidiary of MNRB, currently holds a 20% stake in Labuan Re.
Upon completion of the transaction, Malaysia Re will retain its existing 20% stake, while MNRB will hold the remaining 80% stake, and Labuan Re will become a wholly-owned subsidiary of MNRB. The transaction is expected to close in the fourth quarter of 2026.
The ratings remain under review and the impact will depend on the completion of the transaction and AM Best’s assessment of Labuan Re’s credit rating fundamentals post-acquisition.
