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 paid-up capital of the Company is RM200,000,000 comprising of 200,000,000 ordinary shares of RM1.00 each.
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) has reaffirmed the general insurance strength rating of Lonpac at "AA", reconfirming its financial stability and reliability in the insurance industry.
In October 2012, the A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating (ICR) of "a-" of Lonpac. The rating affirmations reflect the good market profile of Lonpac, its strong liquidity and consistently stable operating performance. The ratings also recognise the strong risk culture of Lonpac and its strengthened risk-adjusted capitalisation.