KARACHI: The JCR-VIS Credit Rating Company Ltd has upgraded the Insurer Financial Strength (IFS) rating of from ‘A’ (Single A) to ‘A+’ (Single A Plus) of Pak-Qatar Family Takaful Limited (PQFTL), a statement said on Monday.
Outlook on the assigned rating is ‘Stable’. Ratings assigned to PQFTL are driven by improvement in key performance areas and strong profile of its sponsor, it added. The rating denotes a strong capacity to meet policy-holders and contract obligations. It also reflects the sustained market position of the company, having decent foothold in Bancatakaful.
“This elevation is coherent with the well-defined organisational structure of the company, experienced management, and highest paid-up capital (above Rs1.3 billion) in the industry,” said Kamran Saleem, chief financial officer of PQFTL.
A trader can be seen at the Pakistan Stock Exchange building in Karachi. — PPI/FilesKARACHI The Pakistan Stock...
Engro Fertilizers Limited plant can be seen in this undated image. — LinkedIn/Engro Fertilizers Limited KARACHI:...
A representational image of a chemist looking for medicines in his store. — AFP/FileLAHORE: The Pakistan...
This image shows the SRB logo on a wall inside the building. — Facebook/Sindh Revenue Board, Government of...
This image shows the Logo of UBL at the building. — Facebook/UBL - United Bank Ltd/FileKARACHI: United Bank Limited...
IMF headquarters in Washington. — AFP/FileWASHINGTON: The International Monetary Fund urged countries on Wednesday...
