PACRA MAINTAINS 'AA' IFS RATING OF IGI

 

Lahore: September 24, 2003

The Pakistan Credit Rating Agency (PACRA) has maintained Insurer Financial Strength (IFS) Rating of International General Insurance Company of Pakistan Limited (IGI) at "AA" (Double A). The rating denotes a very strong capacity to meet policyholder and contract obligations.

While assigning the rating, PACRA has recognized the very strong financial base and solvency margin of the company, both of which continue to be substantially higher than peers. This reflects the inherently strong ability to meet policyholder and contract obligations despite a difficult operating environment. The stable nature of revenue from the company's core business coupled with a strong investment portfolio and conservative risk management policies significantly enhance the comfort level for policyholders.