SINGAPORE, June 28 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Tune Protect Re Ltd. (TPR) (Malaysia). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect TPR’s adequate risk-adjusted capitalization, as well as its strong and consistent operating performance since inception. TPR is an affiliate of AirAsia Berhad and its associates (the AirAsia Group). This relationship provides TPR with exclusive access to profitable travel insurance business through partnership agreements with cedents and distribution partners. TPR’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), strengthened in 2016 from capital growth that exceeded premium growth.
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