Pakistan Credit Rating Agency Limited maintains IFS rating of Adamjee Life Assurance Company Limited

Lahore, May 12, 2014 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained the IFS rating of Adamjee Life Assurance Company Limited (ALAC) at “A” (Single A). The rating denotes strong capacity of the company to meet policyholder and contractual obligations.

The rating reflects ALAC’s association with established business groups: Nishat providing banking and insurance platform; and Hollard offering life insurance experience and support in strategy setting and infrastructure development.

Sustained significant growth in the topline is helping the company in reducing the distance to breakeven. The volume expansion has significant contribution of Bancassurance – a factor of banking parentage.

The recent equity injection has enabled ALAC to cover gestation losses – yielding further room till break-even. ALAC’s risk absorption capacity is represented by sufficient liquidity and credit quality of its Investment portfolio, built out of company’s capital.

The management’s ability to strengthen its market share together with translation of premium growth into underwriting profitability would benefit the rating. Moreover, maintenance of strong risk absorption capacity in wake of increasing business volumes would remain important.

For more information, contact:
Hammad Rashid
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com

The post Pakistan Credit Rating Agency Limited maintains IFS rating of Adamjee Life Assurance Company Limited appeared first on Business News Pakistan.

The post Pakistan Credit Rating Agency Limited maintains IFS rating of Adamjee Life Assurance Company Limited appeared first on AsiaNet-Pakistan.

Leave a Reply