Fitch: Asuransi Sinar Mas' Insurer Financial Strength Rating Reaffirmed at AA+(idn), Outlook Stable

Fitch Ratings Indonesia (Fitch) has affirmed Indonesia-based Asuransi Sinar Mas' (ASM) National Insurer Financial Strength (IFS) rating at AA+(idn), with a Stable Outlook.

According to Fitch, affirmed rating reflects a strong capacity to meet policyholder obligations, relative to all other obligations upon ASM, as well as ASM’s strong capitalisation and prudent investment risk profile. The ratings also account for ASM’s favourable business profile, given its substantive business franchise within the Takaful industry, a favourable operating scale, well-diversified business lines, as well as a risk appetite on par with the industry.

Given ASM’s manageable exposure t...