Pak-Qatar General Takaful Maintains ‘A’ IFS Ratings from PACRA

Pak-Qatar General Takaful Maintains ‘A’ IFS Ratings from PACRA

Sumera Saeed | March 14, 2017 | category: News

Pak-Qatar General Takaful Maintains ‘A’ IFS Ratings from PACRA

The Pakistan Credit Rating Agency (PACRA) has maintained Pak-Qatar General Takaful Limited an ‘Insurer Financial Strength (IFS) Rating’ of ‘A’ in February, 2017. This rating has been maintained since PQGTL’s initial rating in 2016. PQGTL’s Future Outlook has also remained constant at ‘Stable’.

As per PACRA’s Report; Pak-Qatar being an early entrant in Islamic insurance (Takaful);both General and Family has achieved good brand recognition, giving strength to PQGTL’s business profile. The rating reflects sound-risk absorption capacity of the company. The rating is dependent on the management’s ability to cohesively execute the business plan. PQGTL is the only Takaful Operator which has been graded by both Rating Companies operating in Pakistan namely JCR-VIS Credit Rating Company and PACRA.

About Pak-Qatar General Takaful Limited:

Amongst the pioneers of Takaful in Pakistan, Pak-Qatar General Takaful Limited offers comprehensive general takaful (non-life insurance) products’ portfolio for corporate customers as well as individual clients. Pak-Qatar General Takaful Limited is chaired by Sheikh Ali Abdullah al-Thani, member of Qatar’s Royal Family, and sponsored by some of the leading financial institutions from the State of Qatar. Pak-Qatar General Takaful Limited is present in all major cities of Pakistan. The Company is amongst the first, and the most active, in vitalizing the retail Takaful market in Pakistan. The Company is the recipient of several domestic and international awards and nominations. Moreover, the Company has strong Re-Takaful arrangements with leading international re-takaful operators. An ever-vigilant Shariah Advisory Board of renowned and erudite scholars advise the Company in a direction that suits a Shariah-compliant business entity, thereby ensuring commitment to very high professional and professional standards.

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