The Pakistan Credit Agency (Pacra) has assigned "Positive Outlook" to Insurer Financial Strength (IFS) rating of "A-" (Single A minis) of Alfalah Insurance company Limited. The rating denotes a strong capacity to meet policyholder and contract obligations.
The rating reflects sustained improvement in AFIC's underwriting performance despite continuing volatility in the socio-economic environment of the country. AFIC's association with Abu Dhabi group provides support to the company mainly in the form of captive business, adding stability to its revenue stream. The company, while pursing high growth, intends to maintain conservative risk appetite the entails significant reliance on reinsures. However, AFIC's solvency position is expected to remain under pressure in tandem with its business expansion.-PR
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