VIS Credit Rating Company Limited has reaffirmed the Insurer Financial Strength rating of Pakistan Reinsurance Company Limited at double A.

The rating signifies very high capacity to meet policy holder and contract obligations. Risk is considered modest but may vary slightly over time due to business /economic conditions. Outlook on the rating is stable. Previous rating action was announced on Oct.12, 2018, said a press release on Thursday. The rating draws comfort from the strong sponsorship of Government of Pakistan, directly and indirectly controlling 75% share. The assigned rating derives strength from improved underwriting performance of PRCL along with stable investment income. Sound capitalization indicators, high solvency level along with robust liquidity profile of the company remain key rating drivers. Leverage indicators of the company continue to remain within manageable levels.

© Pakistan Press International, source Asianet-Pakistan