AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of PT Asuransi Tokio Marine Indonesia, with a stable outlook. The ratings reflect the company's strong balance sheet, strong operating performance, limited business profile, and appropriate enterprise risk management, along with rating enhancement from Tokio Marine & Nichido Fire Insurance Co., Ltd., the main insurance operating entity of Tokio Marine Holdings, Inc. TMI's risk-adjusted capitalisation was at the strongest level at year-end 2025, supported by a 21% increase in shareholders' equity from full earnings retention and a conservative investment portfolio, though partially offset by moderate reinsurance dependence and elevated counterparty credit risk. Operating performance remains strong, with a combined ratio of 84% in 2025 and stable investment returns. TMI holds a 2% domestic market share in Indonesia's non-life insurance sector, with a moderately diversified portfolio and preferential access to Japanese interest abroad risks through its affiliation with Tokio Marine Holdings.
Tokio Marine Holdings, Inc.AM Best affirmed A- ratings with stable outlook, reflecting strong balance sheet and operating performance, supporting the subsidiary's creditworthiness.