PACRA expresses satisfaction over UIC performance

Staff Reporter

Karachi

The Pakistan Credit Rating Agency (PACRA) has expressed its satisfaction with the performance of United Insurance Company of Pakistan Limited (UIC). The UIC has successfully maintained “AA-” (Double A Minus) rating and it has introduced Claim Tracking System to provide better services to its policyholders. The rating denotes very strong capacity to meet policyholder and contract obligations, the PACRA statement said. Risk factors for UIC are modest and the impact of any adverse business and the economic factor is expected to be very small, it said. The rating reflects UIC’s strong risk absorption capacity emanating from a robust liquidity profile that amply supports contingencies towards the policyholders, the rating agency said.

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