Alfalah Insurance earns ratings of AA- due to sound business structure

MG News | December 10, 2018 at 04:19 PM GMT+05:00

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December 10, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained IFS rating of Alfalah Insurance Company Limited at ‘AA-’ for Long-term, with a stable outlook forecast.

The rating recognizes Alfalah Insurance's maintained financial profile, emanating from well managed insurance assets/liabilities structure, and investment book that contributes a sizable income stream & provide cushion to the bottom line.

The company is expanding penetration in motor segment; building synergies with group bank – Bank Alfalah. Supporting its prudent risk retention policies, Alfalah Insurance has a sound panel of reinsurers with favorable treaty terms.

The rating is dependent on the company's ability to augment its market position in the competitive landscape, while upholding the underwriting performance. Strengthening of liquid profile is vital along with prudent management of claims and receivables.

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