Published on 19 May 2022.
RAM Ratings has assigned a LECA™ rating of “LECA1” to Brighton Management Limited (BML or the Company), a licensed insurance manager and underwriting manager in Labuan International Business and Financial Centre (Labuan IBFC). The rating - the highest on a scale of six grades - indicates excellent capacity and competence in fulfilling performance obligations.
BML is assessed favourably in terms of its operating record, staffing, management and financial standing. Meanwhile, business infrastructure and risk management practices are adequate.
Established in 2005, BML has served Labuan IBFC insurance and insurance-related entities for over 15 years. It provides a range of corporate services including underwriting management and claims handling, as well as administrative and audit services. Among competitors in the insurance and underwriting manager segment, its market share is approximately 40% of insurance and related entities in the jurisdiction. This makes BML the largest among domestic and foreign insurance managers and/or underwriting managers.
BML is led by an experienced management team with at least two decades of experience in the finance, insurance and/or audit fields. The Company’s operations are supported by 62 adequately qualified staff.
BML is profitable and maintains robust liquidity. In the last 4 years (2018 – 2021), revenue has been largely stable and its pre-tax profit margin has averaged 30%. Cash reserves as at year-end were sufficient to support approximately 15 months of operations.
LECA™ is an assessment service from RAM Rating Services Berhad for companies based in Labuan IBFC. LECA™ ratings are typically valid for up to one year after they are assigned. During this time, the assessment will be monitored by RAM Ratings and any material developments could change the rating assigned.
For information on LECA™ ratings assigned, visit https://analytics.ram.com.my/LECARating
Chuan Shyang Lin
(603) 3385 2536
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