Kuala Lumpur, 1 October 2013 - Fitch Ratings has affirmed MNRB Retakaful Berhad ("MRT")'s Insurer Financial Strength (IFS) rating of 'BBB+', with Stable Outlook.

The rating incorporates the continued operational support from the MNRB Group, given MRT's importance to the group''s strategy of developing its retakaful business in the region. The rating also reflects MRT's sound capital level commensurate with its business profile and its prudent investment strategy.

The Stable Outlook reflects Fitch's view that potential execution risks associated with MRT's business plan are somewhat mitigated by MNRB Group's commitment to support its operations. Fitch also expects MRT to demonstrate progressive improvement in its financial results based on prudent management of its portfolio expansion.

MRT had experienced a significant growth in its total gross contribution, which had increased by 59.4% (RM50.7 million) to RM136.1 million for FY2013 as compared to RM85.4 million that was recorded in the previous financial year. From the registered total gross contribution for FYE 2013, the General Retakaful business accounted for 60.9% of MRT''s total business volume while the remaining 39.1% was generated by the Family Retakaful business.

MRT was incorporated in December 2006 as a wholly-owned subsidiary of MNRB Holdings Berhad ("MNRB") and registered by Bank Negara Malaysian as the first retakaful operator in Malaysia on 1 August 2007. MNRB is an investment holding company and listed on the Main Market of the Bursa Malaysia Securities Berhad. Amongst its wholly owned subsidiaries are Malaysian Reinsurance Berhad and Malaysian Re (Dubai) Ltd.

Fitch Ratings is a leading global rating agency with dual-headquarters in New York and London covering entities in more than 90 countries, including IFS ratings on over 2,000 insurance companies. Fitch Ratings first rated MRT in 2008.

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For further enquiries, kindly contact

Puan Noorazimah Tahir (Azie),

Vice President & Head of Corporate Communications, MNRB Holdings Berhad

at Tel No: 03-2096 8120, Fax No: 03-2096 7000 or email to azie@mnrb.com.my

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