Polisea Labuan, PolicyStreet’s Reinsurance Arm Achieves ‘a’ Rating from RAM Rating Services

The LECA rating highlights PolicyStreet’s financial resilience and growing regional presence, positioning the insurtech leader to expand its reinsurance capabilities and foster impactful partnerships across the region.

KUALA LUMPUR, 21 JANUARY 2025 – PolicyStreet, a leading insurtech company committed to serving underserved market segments, announces that its reinsurance arm, Polisea Labuan Ltd., has successfully undergone a Labuan Entity Corporate Assessment (LECA) with RAM Rating Services Berhad. Polisea Labuan received an ‘a’ rating, signifying an adequate capacity to meet its financial obligations and navigate the dynamic landscape of the insurance industry with confidence.

The LECA Report evaluates the performance and financial health of Labuan-based reinsurers, insurers, banks, and service providers, offering valuable insights to support confident decision-making. Polisea Labuan demonstrated a strong financial position, with a capital adequacy ratio of 1,789% as of September 2024. This solid foundation provides a buffer against fluctuations in business performance and supports future growth.

“The LECA rating from RAM Rating Services is a testament to our disciplined approach in balancing risk management with innovation. As part of the PolicyStreet Group, Polisea Labuan is committed to ensuring that our reinsurance operations meet the evolving demands of the market while driving the development of impactful solutions for underserved segments. This recognition strengthens our ability to forge meaningful partnerships, expand regionally, and enhance financial resilience within underserved communities,” says Winnie Chua, Co-Founder and Principal Officer for Polisea Labuan Ltd.

The credit rating assessment underscores PolicyStreet’s strong operational performance in Malaysia, its primary market, and its growing regional footprint across Greater Southeast Asia and Australia, including Singapore, Indonesia, Vietnam, and Hong Kong. This achievement reinforces PolicyStreet’s position as a credible and trusted player in the insurtech space, empowering businesses and consumers alike with innovative insurance solutions.

Through strategic partnerships, the company has introduced customer-centric products that address diverse financial protection needs. Notable collaborations include a partnership with Klook Hong Kong, enabling the experiences and travel services platform to offer satisfaction guarantee refunds, further bolstering consumer confidence. Polisea Labuan also provides reinsurance for Tasco Insurance’s compulsory Motor Civil Liability portfolio in Vietnam, safeguarding vehicle owners against third-party injury claims resulting from road accidents.

The ‘a’ rating signals PolicyStreet’s readiness to deepen its involvement in the reinsurance sector. With this milestone, the company is well-positioned to deepen its partnerships, broaden its impact, and further narrow the protection gap for underserved markets in Malaysia and beyond. For more information on PolicyStreet’s innovative insurtech solutions, please visit policystreet.com.

 

PolicyStreet is licensed by Labuan Financial Services Authority, Bank Negara Malaysia and Australian Securities & Investments Commission.

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