Improvement in IT infrastructure helps General Insurance Ltd in bringing efficiency: PACRA

News Image

MG News | December 19, 2018 at 11:39 AM GMT+05:00

0:00

December 19, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained IFS rating of General Insurance Limited at ‘AA’ for long-term, with a stable outlook forecast.

As per the press release issued by PACRA, the rating of IGI General Insurance Limited draws comfort from the growing business volume under the stewardship of an able team.

The composition of the book is well balanced with almost equal proportion emanating from the direct business. In this, the business relationships of the group also play a pivotal role, whereby a number of multi-national companies obtain insurance coverage from IGI.

Improvement in the IT infrastructure is helping the company in bringing efficiency - notably in claims management. Underwriting profits improved with contributions from both premiums side as well as claims.

Post de-merger, the parent company, IGI Holdings Limited has injected a sizeable capital into the company. This is preserved mostly as in the form of liquid investments.

The assigned rating also takes into account its association with Packages Group and comfort is drawn from its sound governance practices of the group.

The rating remains dependent on the management's ability to strengthen its market position in a competitive landscape while ensuring underwriting profitability. The liquid investment book need to be preserved and indeed improved in line with the growing business volumes.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 19, 2025 at 04:28 PM GMT+05:00

4.7m families get BISP aid in Punjab


July 19, 2025 at 03:00 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


July 19, 2025 at 02:49 PM GMT+05:00

RDA attracts $182m in June


July 19, 2025 at 02:49 PM GMT+05:00

M2 falls by Rs455bn in a week



Top 5 things to watch in this week

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