Pak-Qatar General Takaful Limited IFS (Insurer Financial Strength) rating has been upgraded to ‘A-’ from ‘BBB+’ by the JCR-VIS Credit Rating Company Limited.
According to Pakistan’s Daily Times, the outlook on the assigned rating has been designated as ‘Stable’.
The assigned rating incorporates the ownership structure of PQGTL, comprising prominent Qatar based financial institutions, whereby sponsors have demonstrated financial support, with equity injection of Rs 33.7 million and a further commitment of Rs 66.3 million in 2013.
Improvement in results of the shareholders’ fund has contributed positively to aggregate capitalisation indicators in FY12.
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