Fitch Ratings Indonesia affirmed 's nationalinsurer financial strength rating at AA(idn).

The outlook is stable, the rating agency said May 3.

The rating affirmation reflects the insurer's position asone of the leading motor insurers in Indonesia, the country's developing marketconditions as well as the evolving regulations in the insurance sector.

Fitch may upgrade the ratings if the company can strengthenits market franchise and diversify into non-motor businesses on a sustainedbasis.

On the other hand, the ratings may be downgraded if there isdeterioration in the underwriting margin and a sharp decline in the localstatutory risk-based capitalization ratio.