PACRA ASSIGNS "AA" IFS RATING TO NJI

 

Lahore: April 10, 2002

The Pakistan Credit Rating Agency (PACRA) has assigned Insurer Financial Strength (IFS) Rating of "AA" (double A) to New Jubilee Insurance Company Limited (NJI). The rating denotes a very strong capacity to meet policyholder's and contract obligations.

The company ranks among the three largest Pakistani Insurance Companies in respect of premium volume, capital and equity base. While assigning the rating, PACRA has recognized the company's financial strength evidenced by a strong financial base and solvency margin, both being consistently maintained higher than peers. This reflects the inherently strong ability of the company to meet policyholder's and contract obligations despite a difficult operating environment. The rating also takes into account the proven capacity of NJI to consistently outperform its peers.