December 07, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained IFS rating of Pak Qatar General Takaful Limited at ‘A’ for long-term, with a stable outlook forecast.
The recent press release by the credit rating agency says that the rating reflects adequate risk absorption capacity – strengthened by capital injections – of the company. However, in more recent years, intense competition has resulted in pressure on the profitability of the sector.
The rating also incorporates the effect of association of the company with Qatar based investors, and is dependent on the management’s ability to cohesively execute the business plan.
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