JAKARTA: A credit rating agency Pefindo has rated Asuransi Jiwa Bersama Bumiputera 1912, one of the largest life insurance company, in Indonesia an idBBB. Outlook of the rating is "stable".The rating reflects the company's business strength as one of the largest insurance companies in Indonesia, said Danan Dito and Hotma Parulian Manalu, analysts at PT Pemeringkat Efek Indonesia (Pefindo).It also showed strong commitment to resolve insolvency issues and more lenient regulation due to systemic risk.However the rating is constrained by large mismatch between assets and liabilities, weak operating performance due to significant increase of claims reserve and limited financial flexibility.Asuransi Jiwa Bersama Bumiputera was a pioner in the insurance industry in Indonesia. The company provides insurance protection in term life, endowment as well as whole life. To deliver its services, the company operates 28 regional branch offices covering over 400 branches throughout Indonesia and employs 30,000 agents. As a mutual insurer, the company's current shareholder structure consists of all policyholders. (NOM)
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