Earnings diversification has increased as overseas and group businesses account for a larger share of profits, supported by expansion in the US market.
AM Best expects underwriting profits from the platform-sold products to improve step by step as they scale, while profitable Samsung-linked commercial business keeps results steady.
Overall ratings affirmation and stand-alone credit profile upgrade to 'a+' come as the RAA Insurance deal lifts insurer to third in the country's property and casualty market.
Improvement in underwriting performance attributed to a lower expense ratio and operational scale expansion, though the agency noted earnings remain reliant on investment returns to offset losses
The alleged IDR54bn (US$3.04m) investment fraud and payroll-related embezzlement could lead to further losses, weighing on the insurer's capital and profitability.
Strong distribution and regulatory expense controls lifted NBV in the first half of 2026, though the agency noted high equity exposure and a large single‑name stake heighten vulnerability to market vo...
