The Pakistan Credit Rating Agency (Pacra) has maintained the IFS rating of Adamjee Insurance Company Limited (AICL) at "AA" (Double A). The rating denotes a very strong capacity to meet policyholder and contract obligations and risk factors are considered modest.
The rating reflects AICL's strong financial profile emanating from a robust equity base and sound liquidity engendering high-risk absorption capacity. The rating also recognises the management's recent initiatives to strengthen its system and controls and its growth strategy of exploring relatively untapped segments through innovative products. Meanwhile, synergetic benefits accruing from AICL's association with a leading business group are also a key rating factor.-PR