KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the Insurer Financial Strength rating of UBL Insurers Limited at double A minus. Outlook on the assigned rating is stable.

The previous rating action was announced on May 29, 2017, said press release on Monday.

The assigned rating takes note of UIL's continued growth in business volumes, improved underwriting results and conservative investment profile. The rating also draws strength from the company's strong sponsor profile and sound reinsurance panel.