Analyst
Zeeshan Munir
zeeshan.munir@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA suspends IFS Rating of The Pakistan General Insurance Company Limited
Rating Type | IFS | |
Current (03-Dec-18 ) |
Previous (10-Apr-18 ) |
|
Action | Suspended | Downgrade |
IFS Rating | - | B+ |
Outlook | - | Stable |
Rating Watch | - | - |
The IFS rating of PGI is suspended, due to prolong delay in the restoration of underwriting operations of the company.
The rating would be updated, as and when the company commences underwriting operations and the management is providing all the related information for the rating update.
About
the Entity
The Pakistan General Insurance Company Limited (PGI), established in 1947, is listed on Pakistan stock exchange. Majority shareholding is with Mr. Zahoor Ahmad and his family. The effective controlling stake is held by the family and directors. PGI has its Head Office in Lahore.