The Indonesian reinsurer's risk-based capital ratio fell to 163% at end-2025 from 228% a year earlier, with Fitch also assigning a negative outlook following the ratings downgrade.
Despite logging a five-year average weighted 93.9% COR, AM Best downgrades ratings due to heightened economic, political, and financial system risks in Pakistan.
Following issue of negative outlook for China's government credit ratings, Moody's downgrades outlook for nine Chinese insurers, inclusive of two captives, plus one overseas subsidiary.