KARACHI: JCR-VIS Credit Rating Company Limited has reaffirmed the insurer financial strength rating of Jubilee Life Insurance Company Limited (JLICL) at double A plus.
The outlook on the assigned rating is stable. The previous rating action was announced on Sept. 23, 2016, said press release on Thursday.
The life insurance industry has depicted a double-digit growth over the last 5 years and is largely supported by unit-linked policies. Given the low life insurance penetration in Pakistan, healthy growth in gross premiums is expected to continue.
The rating assigned to JLICL takes into account very high capacity of the company to meet policy holder liabilities. Current rating also derives strength from its strong capitalization levels and adequate liquidity profile.
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