KARACHI, Sept 15: JCR-VIS Credit Rating Company Limited has assigned an insurer financial strength rating of A (Single A) to Premier Insurance Company Limited with a “stable outlook”.
The Rating Agency maintained that PICPL capital base has strengthened over the years through retention of earnings and the company has developed a strong earning assets portfolio.
PICPL’s net worth has increased substantially, particularly over the last two and a half years, mainly from gains in equity investments (realized and un realized) and dividend income resulting in sufficient loss absorption capacity which when viewed with the company’s strong and stable reinsurance arrangements provides high capacity to meet policyholders and contract obligations.—APP
