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Friday March 29, 2024

JCR-VIS reaffirms Jubilee Life’s rating

By APP
June 01, 2018

KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the insurer financial strength rating of Jubilee Life Insurance Company Limited (JLICL) at AA plus, a statement said on Thursday.

The outlook on the assigned rating is stable. The previous rating action was announced on Sept 23, 2016, it said.

The life insurance industry has depicted a double-digit growth over the last five years and is largely supported by unit-linked policies. Given the low life insurance penetration in Pakistan, healthy growth in gross premiums is expected to continue, the statement said.

The rating assigned to JLICL takes into account very high capacity of the company to meet policyholder liabilities.

Current rating also derives strength from its strong capitalisation levels and adequate liquidity profile, it added.