The Pakistan Credit Rating Agency (Pacra) has maintained the insurer financial strength (IFS) rating of State Life Insurance Corporation of Pakistan (SLIC) at "AAA" (Triple A). The rating denotes SLIC's exceptionally strong capacity to meet policyholders and contract obligations. At the same time, risk factors are considered minimal, and the impact of adverse business and economic factors is expected to be extremely small.
The rating reflects the lending market position of SLIC in the life insurance industry, supported by its extensive distribution network, stable and experienced management, comprehensive information systems, and growing business volumes. The rating factors in the corporation's robust financial profile emanating from its sound investment portfolio. Meanwhile, the rating draws comfort from the strong ownership structure of corporation - fully owned by the government of Pakistan - supplemented by GoP's guarantee in respect of liabilities of the corporation.-PR