Alex Kühnast, the new CRO, joined the insurer in 2024, while Ben Lovelock, now the CPMO, has been with the firm since 2023; each previously held the other's role before the transition.
The ratings agency has affirmed the South Korean insurer's IFS rating at “A+” and IDR at “A”, with subordinated debt at “A-”, all with a stable outlook.
The insurer's combined ratio is expected to fall this year from 101.4% in 2025 as a result of ongoing regulatory constraints on commissions and efficiency measures.
Ratings agency cited uncertainty over planned capital injections and ongoing regulatory changes as key factors in its latest review of the Indonesian insurer.