Type Public Revenue RM2,441 million (2015) Headquarters Malaysia | Traded as MYX: 6459 Net income RM0,139 million (2015) Founded 1973 | |
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Industry Reinsurance
Retakaful
Takaful Key people Sharkawi Alis (Chairman)
Mohd Din Merican (President & Group CEO)
Zainudin Ishak (President & CEO, Malaysian Re) Stock price MNRB (KLSE) MYR 2.39 0.00 (0.00%)17 Mar, 4:50 PM GMT+8 - Disclaimer Parent organization Permodalan Nasional Berhad Subsidiaries MNRB Retakaful Berhad, Takaful Ikhlas Sdn. Bhd. | ||
Malaysian Reinsurance Berhad (known as Malaysian Re) is a Malaysian reinsurance company. It is the only local-owned reinsurer in the country. Malaysian Re is a wholly owned subsidiary of MNRB Holdings Berhad which is listed on the Main Market of Bursa Malaysia Securities Berhad.
The company was formed in 1973 as Malaysian National Reinsurance Berhad (MNRB). In 2005, it underwent a restructuring exercise under which MNRB became the listed holding company (as MNRB Holdings), while the reinsurance business was transferred to Malaysian Re. MNRB's other subsidiaries include MNRB Retakaful, Takaful Ikhlas and Malaysian Re (Dubai) Ltd which serves the Middle East and North Africa market. In 2015, Malaysian Re received approval from Bank Negara Malaysia to conduct family and general retakaful business. This will result in an internal restructuring of MNRB's retakaful business at a later date.
According to then-CEO Hashim Harun, Malaysian Re was not heavily exposed to liabilities from the Malaysia Airlines Flight 370 incident. However, the 2014–15 Malaysia floods resulted in large claims which negatively affected the company's earnings in the quarter ended 31 December 2014.
Malaysian Re's Insurer Financial Strength (IFS) Rating and outlook of 'A/Stable' was affirmed by Fitch in May 2015.