RAM Ratings assigns LECA1 rating to Brighton Management Limited

Published on 19 May 2022.

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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

 

Analytical contact
Chuan Shyang Lin
(603) 3385 2536
shyanglin@ram.com.my

 

LECA™ ratings are not an opinion of a company’s specific financial obligations and terms thereof nor the legality and enforceability of the same, nor does it involve any audit by RAM Ratings. The information herein is strictly for information purposes and is not an offer, recommendation, solicitation or advice to buy or sell any investment product, securities or instruments, nor intended to be used as a recommendation to enter into, continue, suspend or terminate any contractual or financial obligation. Nothing in this publication constitutes accounting, legal, regulatory, tax, financial or other investment advice by RAM Ratings. 

RAM Ratings reserves the right to add, remove, withdraw, amend or revise, as it deems fit and without prior notice to users, any detail related to any company for whom it has produced a LECA™ rating and report. Although every reasonable care has been taken to ensure the accuracy, completeness and objectivity of the information contained herein, RAM Ratings makes no representation or warranty, whether express or implied, as to its accuracy, completeness and objectivity and accept no responsibility or liability relating to any losses or damages (direct or indirect) howsoever suffered by any person arising from any reliance on the analysis, views or information contained in this publication.

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