MALAYAN Insurance Co. credited its ‘synergy’ within the Yuchengco Group of Co., advanced analytics tools and strong underwriting capabilities as the drivers of its ‘consistent’ top performance over the past two years.
As of December last year, Malayan’s net premiums written increased to P5.36 billion from the previous year’s P4.78 billion. While gross premiums written slightly dipped to P15.07 billion from P15.4 billion, the company retains its high ranking for two years in a row.
Malayan Insurance Chief Underwriting Officer Adelo A. Abeleda said last Monday that the company’s sustainable growth is ‘shaped by internal strengths and external market dynamics.’
‘Internally, Malayan benefits from strong underwriting and distribution capabilities, enhanced by its affiliation and synergy with YGC. With YGC’s deep market relationships, financial strength, and strategic guidance, Malayan is well-positioned to seize growth opportunities while managing risks effectively-a combination that has strengthened its standing in a competitive industry,’ Abeleda said.
‘Externally, Malayan benefits from the overall growth of the Philippine insurance industry and the country’s economic expansion, which drives demand for new insurance products,’ he added.
Malayan’s key performance indicators reflect sustained business growth in a highly competitive market.
‘The company’s rising NPW highlights its financial strength and ability to meet obligations. This growth suggests that the company is actively engaged in the market through proper selection and has the financial capability to manage a larger volume of policies, reinforcing its reliability and capacity to serve,’ Abeleda said.
The bottom line, Abeleda said the numbers aren’t just about size; it’s about stability.
‘And in an unpredictable world, that’s exactly what you want from your insurer.’
He said Malayan has been improving its underwriting profitability and risk evaluation by utilizing modern risk modeling platforms and risk assessment tools available in the market, including the innovative Moody’s RMS Risk Modeler which enables risk analysis of potential disasters.
Rising concerns over economic uncertainty, climate change and cybersecurity will continue to drive the demand for non-life insurance. On the other hand, tighter regulatory requirements and the need for advanced risk modeling tools will keep the market competitive.
‘For Malayan, the competitive edge will likely keep evolving around three pillars: data-driven underwriting, disciplined risk selection, and the strength of its partnerships. With continued investments in advanced analytics, technology, and talent, the company is well positioned to offer more tailored solutions, respond faster to client needs, and maintain a solid balance sheet-all of which are crucial in a rapidly changing environment,’ Abeleda said.
Founded in 1930, Malayan Insurance is celebrating its 95th anniversary this year.