Lahore: The Pakistan Credit Rating Agency (PACRA) has assigned ‘Positive Outlook’ to the IFS rating of “A+” (single A plus) of Habib Insurance Company Limited (HIC). The rating denotes strong capacity to meet policyholder and contract obligations and risk factors are considered moderate.
The rating reflects HIC’s strong risk absorption capacity, emanating from a robust financial profile and sound liquidity position. The rating recognizes persistently improving profitability, despite challenging macroeconomic environment, due to management’s conservative stance towards underwriting risk, as reflected in lower loss ratio. The rating draws comfort from improved information technology framework augmenting overall control environment. Meanwhile, the rating incorporates HIC’s association with very strong sponsors – Habib Family. This, while adding stability to revenue stream in the form of low-risk captive business, boosts sound governance framework.
For more information, contact:
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