Bangkok Insurance Public Company (BKI), the third largest general insurer in Thailand, has a strong operating performance, as evidenced by a five-year average return-on-equity ratio of 7.4% and operating ratio of 79.1% (2016-2020), says AM Best.
Despite the company’s resilient performance to date, underpinned by both strong underwriting performance and positive investment income, the persisting COVID-19 environment and competitive market conditions are expected to pressure these performance metrics over the near-to-medium term.
AM Best has affirmed BKI’s Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent). The outlook of these credit ratings is negative.
The ratings reflect the insurer’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral…
