SINGAPORE, March 15 (Bernama-BUSINESS WIRE) — AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) to PT Asuransi Astra Buana (Asuransi Astra) (Indonesia). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has assigned the Indonesia National Scale Rating (NSR) of aaa.ID (Exceptional) to Asuransi Astra with a stable outlook.
The ratings reflect Asuransi Astra’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also factor in a neutral impact from Asuransi Astra’s ultimate parent, Jardine Matheson Holdings Limited (Bermuda).