Lonpac Insurance Bhd

Lonpac Insurance Bhd (Lonpac), a wholly-owned subsidiary of LPI Capital Bhd, was incorporated in Malaysia on 12 July 1994. It commenced underwriting of general insurance business after a rationalisation scheme on 1 May 1999. The issued share capital of the Company is RM200,000,000 comprising of 200,000,000 ordinary shares.

The Company operates through 21 branches in Malaysia and a foreign branch in Singapore to serve the clients better.

In September 2005, the Malaysian Rating Corporation Berhad (MARC) had reaffirmed the general insurance strength rating of Lonpac at “AA”, reconfirming its financial stability and reliability in the insurance industry.

In November 2019, A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” for Lonpac Insurance Bhd. The outlook of these Credit ratings has remained stable. The rating reflects Lonpac’s balance sheet strength, which A.M. Best categorises as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. 

Courtesy posting by NextLifeBook.com