PACRA assigns PQGTL's IFS rating as "A"

The Pakistan Credit Rating Agency (PACRA) has assigned the Insurer Financial Strength (IFS) rating of Pak-Qatar General Takaful Limited (PQGTL) "A" (Single A) with Stable Outlook. The rating denotes strong capacity to meet policyholders and contract obligations. Pak-Qatar General Takaful Limited being an early entrant in Takaful has achieved good brand recognition. This gives strength to PQGTL's business profile.
The rating, in addition to this, reflects sound risk absorption capacity of the company. PQGTL is the only Takaful Operator which has been graded by both Rating Companies operating in Pakistan namely JCR-VIS Credit Rating Company and PACRA. JCR-VIS has recently reaffirmed PQGTL's IFS rating as "A-" with Positive' Outlook. With over Rs 1.0 billion turnover, PQGTL is amongst the top ten general insurance/takaful operators of Pakistan by virtue of gross underwritten premium/contribution.