A.M. Best Affirms Ratings of PT Asuransi Jasa Indonesia (Persero)
Proquest LLC |
In a release on
The ratings reflect Jasindo's favorable operating performance in recent years, driven by its consistently profitable underwriting results and stable investment returns. The ratings also acknowledge its adequate capitalization and leading position in the Indonesian market.
Jasindo registered healthy growth in its capital and surplus between the period of 2008 and 2012, due to its favorable operating earnings and underwriting results, which are mainly attributable to the company's efforts in both risk selection and cost control. Jasindo's market presence remains solid, with the company ranked as the second-largest non-life insurer in
Partially offsetting these strengths includes Jasindo's exposure to potential catastrophe perils and the slowdown of the Indonesian economy.
Jasindo's exposure to natural catastrophes continues to grow, as demonstrated by the flooding in
Rating upgrades could occur for Jasindo if there is continuation of the favorable operating results, maintenance of strong risk- adjusted capitalization while growing its business and the further enhancement of its catastrophe risk exposure management. Negative rating actions could occur if Jasindo's operating performance deteriorates significantly, resulting in a material decline in its risk-adjusted capitalization level.
The methodology used in determining these interactive ratings is Best's Credit Rating Methodology, which provides an explanation of
Ratings are communicated to rated entities prior to publication, and unless stated otherwise, the ratings were not amended subsequent to that communication.
This rating announcement has been issued by
More information:
www.ambest.com/ratings/methodology
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