MNRB to strengthen its capital

The issuance was fully subscribed by MNRB.

KUALA LUMPUR: MNRB Holdings Bhd’s wholly-owned subsidiary, Malaysian Reinsurance Bhd (Malaysian Re) has issued a RM50mil subordinated medium term notes (MTN), under its RM250mil subordinated MTN Programme.

The issuance was fully subscribed by MNRB.

It said proceeds from the issuance would be used to strengthen its capital in view of the substantial growth of its gross premium during the last nine months. The stronger capital will also support Malaysian Re’s business remodelling plan.

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