JCR-VIS Credit Rating Company Limited has upgraded the Insurers Financial Strength rating of UBL Insurers Limited (UIL) from 'A-' (Single A-) to 'A' (Single A). Outlook on the assigned rating is 'Stable'. The rating upgrade incorporates continued sponsor support as evident by recent injection of fresh capital of rupees 300 million in 2010, which has increased the paid up capital to Rs 800 million.
In addition to enhancing the institution's claims of absorption capacity, the increase in capital is expected to improve liquidity profile and enhance investment income.-PR