Rating of National Insurance Company Limited

Karachi: JCR-VIS Credit Rating Co. Ltd. (JCR-VIS) has placed the outstanding Insurer Financial Strength (IFS) rating of National Insurance Company Limited (NICL) of ‘AA+’ (Double A Plus) under ‘Rating Watch- Developing’ status.

This rating action has been taken in view of the delay in finalization of the audited financial statements for FY10 and receipt of necessary information. Since October 2010, the company has been operating without fulltime Chairman/CEO and Board of Directors.

For more information, contact:
Mr. Javed Callea
Advisor
JCR-VIS Credit Rating Company Limited
Tel: +9221 35311861 (10 lines) (Ext: 501)
Fax: +9221 35311872-3
E mail: javed.callea@jcrvis.com.pk