Lahore, February 28, 2019 (PPI-OT): The rating reflects SIL’s strong parentage – the Government of Sindh (GoS) and its ability to leverage on the same. “Universal Accidental Insurance Scheme (UAIS)”, initiated by GoS, provided impetus to the company’s business volume. The scheme has undergone a new regime, by virtue of which the premium size has squeezed though the cash balance has stayed with the company. It is enriching the company’s alternative investment. The company has created reserve against IBNR on account of UAIS. Meanwhile, the Sindh government related business also provides slight comfort. The company needs to develop market related business in order to preserve its relative positioning.
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