Pak-Qatar General Takaful given A+ rating
KARACHI: PACRA, a renowned credit rating company, has harmonised the Insurer Financial Strength rating of Pak-Qatar General Takaful Limited (PQGTL) at ‘A+’ with Stable Outlook.
The rating assigned signifies high capacity to meet policyholder obligations and contractual obligations reflected by the company’s adequate capitalisation and liquidity profile. Business generated through the various channels, particularly Motor Business has contributed significantly to top-line. Pak-Qatar General Takaful Limited is the pioneer and the dedicated Takaful Company operating for more than a decade offering financial protection to everyone with a history of robust profitability ratios.
PQGTL CEO, Zahid Hussain Awan stated: “It is a pleasure for all the stakeholders to witness the robust performance of PQGTL, in all aspects of its business. This was only possible because of our well-defined organisational structure of the company, experienced management, improvement in results of the Participants’ Fund and the Shareholders’ Fund that have contributed positively to aggregate capitalisation indicator. Liquidity profile of the company is considered sound with liabilities maintained within manageable limits and ageing of outstanding claims is also satisfactory. Underwriting results have been improved on account of reduction in expense ratio, achieved as a result of business growth. Also, it is a reflection of the consistent hard work of our highly committed team.”