April 5, 2022: VIS Credit Rating Company Limited (VIS) has modified the Rating Scale for Insurer Financial Strength (IFS) rating to create a clear distinction in symbols and definitions of IFS Ratings.

Accordingly, the IFS rating of Jubilee General Insurance Company Limited of ‘AA+’ (Double A Plus) has been harmonized at ‘AA++(IFS)’ (Double A Plus Plus IFS). The revised scale may be found in the relevant methodology available on VIS’ website.

The IFS rating of ‘AA++(IFS)’ denotes a very strong capacity to meet policyholders and contract obligations.

Risk factors are very low, and the impact of any adverse business and economic factors is expected to be very small.

Outlook on the assigned rating is ‘Stable’. The previous rating action was announced on December 28, 2021.

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