Pakistan Credit Rating Agency (PACRA) has maintained the Insurer Financial Strength (IFS) rating of Pak-Qatar Family Takaful Limited (PQFTL) at ‘A’ (Single A). Outlook on the assigned rating has been revised from ‘Stable’ to ‘Positive’.
The rating reflects sustained market position of the PQFTL having decent foothold in Takaful industry. The financial position of Pak-Qatar Family Takaful has strengthened and gained momentum in terms of business expansion. Moreover, after having established extensive branch network, Pak-Qatar Family Takaful Limited is gradually expanding wings through Alternate Distribution Channels. The profitability of the company has remained strong as compared to peers, reflecting strong business profile. The financial risk profile has been strengthened based on fresh injection. The Chief Financial Officer of PQFTL – Mr. Kamran Saleem stated that, “It is a pleasure for all the stakeholders to witness that the robust performance of PQFTL, in all aspects of its business, is being recognized by a credible rating agency like PACRA.