March 05, 2019 (MLN): Pakistan Credit Rating Agency (PACRA) has maintained IFS rating of TPL Insurance Limited at ‘A+’, with a ‘stable’ outlook forecast.
According to the rating agency, the rating reflects established position of the Company in its niche market.
The company has been sustainably augmenting its market positioning with significant growth in the topline.
The third largest player in the motor segment, TPL Insurance Limited holds a substantial share in industry's GPW of the segment.
The company has also built its presence in the Islamic side – Takaful. The company is growing into non-motor avenues with strengthened management team.
Advanced technology infrastructure has continued providing an edge to the company ¬ amidst high competition. The financial risk profile is equipped with sound liquidity.
With structured efforts, TPL Insurance Limited is fortifying its inroads in commercial lines.
This has added diversity to product slate of TPL Insurance Limited. Capitalizing on a strong foothold in niche market ¬ TPL Insurance Limited is establishing relationships with intermediaries; bankers and auto manufacturers.
With the rise in business size, the underwriting profitability must improve.
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