Product innovation and extended market outreach earn Habib Insurance rating of A+

MG News | December 14, 2018 at 11:48 AM GMT+05:00

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December 14, 2018 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained Insurer Financial Strength (IFS) rating of Habib Insurance Company Limited at ‘A+‘, with a ‘Negative’ outlook forecast.

According to PACRA, the rating incorporates the Company's association with astute sponsors Habib Family.

The rating takes note of HIC’s business strategy that encompasses enhancing its market presence with innovative products while diversifying revenue stream.

Product innovation and extended market outreach, capitalizing on Habib group, bodes well for HIC’s business profile.

Moreover, the rating is dependent on strengthening of company's relative position in the market.

In addition, improvement in the underwriting profitability is important.

The liquid profile is adequate for current level of operations, the strengthening is necessitated as the company grows.

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