IGI Life Insurance’s market share gets slightly diluted owing to change in business strategy: PACRA

News Image

By MG News | December 27, 2018 at 12:44 PM GMT+05:00

0:00

December 27, 2018 (MLN): Pakistan Credit Rating Agency has maintained IFS rating of IGI Life Insurance Limited at ‘A+’ for long-term, with a stable outlook forecast.

IGI Life has been a step towards holistic presence in insurance industry - General as well as life. This is unlocking synergistic benefits. The market share of the company has slightly diluted, owing to change in the business strategy: to reduce dependence on the single premium and shift towards the regular premium.

According to the press release issued by PACRA, the agency network of the company has continued to expand, whereas, bancassurance arrangements with some of the leading banks of the country are yielding benefits. The company has a diverse product slate, targeting all segments of the market.

Going forward, IGI Life aims to further penetrate the market, on the back of expansion in branch network and gradually building up portfolio through its new product 'Vitality'. The company's association with Packages Group engenders sound governance framework remains a key rating factor.

The rating is dependent on sustained improvement in business and financial risk profile of the company in line with its relative positioning within the industry. At the same time, liquidity profile should continue to cushion the policyholder's liabilities. The performance of company's new product 'Vitality' remains crucial.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,470.00 110,105.00
109,405.00
-815.00
-0.74%
BRENT CRUDE 68.51 69.00
68.48
-0.60
-0.87%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.88 67.50
66.83
-0.57
-0.85%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 03, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 02, 2025 at 11:05 PM GMT+05:00

Cement sales flat in FY25


July 02, 2025 at 10:50 PM GMT+05:00

SBP reserves cross $14bn mark in FY25


July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes


July 02, 2025 at 05:05 PM GMT+05:00

PSX in FY25: From Oof to Boom



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg