The Pakistan Credit Rating Agency Limited
Press Release
a

Rating Action
Lahore: (27-December-2006)
    PACRA Maintains IFS Rating of
Habib Insurance Company Limited (HIC)
 

 
Analyst
Talal Naeem
(+92-42-586 9504)
talal@pacra.com

 

 

 










 

 

 

Disclaimer
This press release is transmitted to you for this sole purpose of dissemination through your newspaper/magazine/agency. The press release may be used by you in full or in part without changing the meaning or context thereof but with due credit to PACRA. However, PACRA has the sole right of distribution of its press releases for consideration or otherwise through any media.

  

The Pakistan Credit Rating Agency (PACRA) has maintained the Insurer Financial Strength (IFS) rating of Habib Insurance Company Limited (HIC) at “A+” (Single A Plus). The rating denotes strong capacity to meet policyholder and contract obligations. At the same time, risk factors are considered moderate, and the impact of any adverse business and economic factors is expected to be modest.

The rating reflects HIC’s sound underwriting practices and a strong financial base. The company follows a steady growth pattern dictated by its prudent risk identification criteria and is less influenced by desire to target a higher market share. At the same time, the rating recognizes association with Habib Group.

About the company: Habib Insurance Company, in operation since 1942, is listed on Karachi and Lahore Stock Exchanges. Habib Group – one of the oldest and most well known groups with significant investments in the industrial and service sectors – is the majority shareholder in HIC.

With a nationwide network of 15 branches, HIC underwrites all types of general insurance business. The company enjoys a higher degree of staff loyalty, reflected by a low turnover, and while ensuring job rotation provides continuous training.
 
The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity.

PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings.

PACRA's opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.

 

    
rush limbaugh on jay leno barney frank