HONG KONG, Feb 27 (Bernama-BUSINESS WIRE) -- A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B (Good) and the Long-Term Issuer Credit Rating of "bbb" of Tugu Insurance Company Limited (TIC) (Hong Kong). TIC is owned by PT Tugu Pratama Indonesia (TPI).
The negative outlooks reflect TIC's limited business profile, poor and increasingly volatile underwriting performance and negative operating cash flows.
The negative outlooks reflect TIC's limited business profile, poor and increasingly volatile underwriting performance and negative operating cash flows.
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