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Home » Business News, General Business News

PACRA Maintains IFS Rating of Pak Qatar General Takaful Limited

December 6, 2018

Lahore, December 06, 2018 (PPI-OT): The rating reflects adequate risk absorption capacity – strengthened by capital injections – of the company. However, in more recent years, intense competition has resulted in pressure on the profitability of the sector. Furthermore, the management follows a conservative stance (high liquidity, low risk philosophy) for its investment book.

Hence, stable, though relatively low, investment income supplements profits. The management need to continue its efforts to fortify business profile in the wake of intensive competition from window takaful. The ratings incorporates the effect of association of the company with Qatar ­based investors.

The rating is dependent on the management’s ability to cohesively execute the business plan. Furthermore, improvement in market share and underwriting profitability are considered vital. Meanwhile, prudent management of premium receivables from corporate customers is essential. Also, implementation of real time IT infrastructure along with an upgraded MIS should, among others, strengthen the claims management system.

For more information, contact:
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com

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