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Lahore, December 06, 2018 (PPI-OT): The rating takes into account the improved fundamentals of the company. The sound business profile has enabled the company to improve its market share. Prudent underwriting practices along with a focus on diversified products helped the company to demonstrate continued healthy underwriting profitability. The implementation of advanced IT infrastructure and real time insurance solution in the key offices is considered positive.
The sustainability of the company has been augmented with the creation of independent structure for the ownership, identification and induction of future leadership of the company. The strength of liquidity position and strong financial risk profile of the company lend support to rating. Future plans are expected to add to the liquidity, while enhancing the governance framework of the company. The rating incorporates the effective working capital management, though with growing volumes, this will be a challenge.
The rating is dependent in company’s ability to improve its market position with continued profitability. The liquidity position and, hence, financial risk profile should remain afloat along with growth. Effective utilization of upgraded IT infrastructure and MIS should benefit in bringing sophistication in structure and reporting. Succession of key roles is essential.
For more information, contact:
Analyst
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425
Email: hammad.rashid@pacra.com
Web: www.pacra.com