Kuala Lumpur: RAM Ratings has reaffirmed Tune Protect Group Bhd's A1/Stable/P1 corporate credit ratings.

RAM Ratings said the ratings considered Tune Protect Group's conservative balance sheet, as well as, its favourable underwriting performance and earnings profile, which remained anchored by its online travel insurance business.

"Under exclusive long-term agreements with AirAsia, the group stands to benefit from the airline's growth and can access data which enables it to accurately price and estimate losses for travel insurance plans," it said in a statement on Thursday.

The ratings agency noted that Tune Protect Group's ratings may be revised upwards if it demonstrated significant and sustained business growth, as well as, meaningful diversification, while maintaining its strong financial metrics. – Bernama

Source: http://www.dailyexpress.com.my/news.cfm?NewsID=125246