SINGAPORE, April 10 (Bernama-BUSINESS WIRE) — AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) for PT Asuransi Jasa Indonesia (Persero) (Jasindo) (Indonesia). The outlook of the Long-Term ICR has been revised to stable from negative, whilst the outlook of the FSR remains stable.
The Credit Ratings (ratings) reflect Jasindo’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.