A.M. Best Assigns Credit Ratings to PT Asuransi Tokio Marine Indonesia
The ratings reflect TMI’s strong risk-adjusted capitalization and good underwriting performance. The ratings also recognize the implicit and explicit support provided by the company’s ultimate parent, Tokio Marine Holdings, Inc., of which the main operating entity is
TMI is a joint venture between
TMI’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is supported by the company’s low net underwriting leverage. The company’s investment portfolio is conservative, with most investments placed in cash and government bonds.
In terms of performance, TMI has produced favorable underwriting results, especially in its Japanese-related risks. Investment income, mostly from cash deposits and government bonds, also has supported the company’s results.
An offsetting rating factor is an upward trend in the company’s expense ratio, due to keen competition and inflationary pressures. Additionally, while Japanese companies operating in
The company is well-positioned at its current rating level. Negative rating actions may arise from material deterioration in operating performance or risk-adjusted capitalization.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
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