SINGAPORE, April 23 (Bernama) -- AM Best has placed under review with negative implications the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of “bbb” (Good) and the Vietnam National Scale Rating (NSR) of aaa.VN (Exceptional) of Bao Minh Insurance Corporation (BMI).
The under review with negative implications status reflects concerns around BMI’s internal control environment and enterprise risk management following the occurrence of insider fraud, which may negatively impact the company’s credit fundamentals.
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