Tune Ins purchase of Indonesian insurer good move, says RAM Ratings

KUALA LUMPUR: Tune Ins Holdings Bhd's (TIH) proposal to buy 50%-plus-one-share of Indonesian insurer, PT Asuransi Staco Mandiri will not impact its A1/Stable/P1 ratings, according to RAM Ratings.

The ratings agency said on Thursday the proposed RMM22.8mil acquisition would be funded internally via its initial public offering proceeds.