MIC has paid MOP 309 million in special dividend to the ultimate parent, Dah Sing Financial Holdings Limited, according to its capital plan. The dividend repatriation was executed in two stages – June 2023 and June 2024. Since the majority of the special dividend was settled by the transfer of equity investments, which lowered the equity securities risk, as measured by Best's Capital Adequacy Ratio (BCAR), AM Best does not see a significant weakening in risk-adjusted capitalization. MIC has applied a 25% dividend payout ratio based on profit after tax starting from 2023 and is expected to maintain this dividend payout policy in the near future. Based on MIC's business plan, AM Best expects the company's risk-adjusted capitalisation will remain solid to manage its underwriting and investment risks.