Asuransi Umum Bumiputeramuda 1967
Released : May 22, 2013
The Rating of PT Asuransi Umum Bumiputera Muda 1967 is assigned at “idBBB+”
PEFINDO assigned its “idBBB+” financial strength rating of PT Asuransi Umum Bumiputera Muda 1967 (ABMD or the Company). Outlook for the rating is “stable”. The rating reflects the Company’s relatively strong market share in Personal Accident & Health (PA & Health), as well as its adequate capitalization. However, the rating is constrained by its aggressive investment policy and tight competition in retail segment.
Established in 1967, ABMD is a subsidiary of Asuransi Jiwa Bersama Bumiputera 1912 (AJB). The Company was intentionally established to provide non-life insurance services to complement life insurance services rendered by its parent. It is supported by 464 employees in addition to 964 insurance agents and 13 insurance brokers. The Company is supported by a network of 1 head office and 48 branch offices. As of Dec. 31, 2012 (FY2012), the Company was 99.45% owned by AJB Bumiputera 1912 and 0.55% by PT Eurasia Wisata.
Rating Period: May 17, 2013 – May 1, 2014
Contact Analyst: Titan R. Sjofjan & Hendro Utomo