The Pakistan Credit Rating Agency (PACRA) has maintained Pak-Qatar General Takaful Limited an ‘Insurer Financial Strength (IFS) Rating’ of ‘A’. This rating has been maintained since PQGTL’s initial rating in 2016. PQGTL’s Future Outlook has also remained constant at ‘Stable’.
As per PACRA’s Report; Pak-Qatar being an early entrant in Islamic insurance (Takaful); both General and Family has achieved good brand recognition, giving strength to PQGTL’s business profile. The rating reflects sound-risk absorption capacity of the company.
The rating is dependent on the management’s ability to cohesively execute the business plan. PQGTL is the only Takaful Operator which has been graded by both Rating Companies operating in Pakistan namely JCR-VIS Credit Rating Company and PACRA.
The Chief Financial Officer of PQFTL, Kamran Saleem said, “It is a pleasure for all the stakeholders to witness that the excellent performance of PQGTL, in all aspects of its business, is being recognized by a credit rating agency like PACRA.”
He said, “It is a reflection of the consistent hard work of our highly committed team.” “I congratulate all team members on winning this accolade for strong financial stature and earning more respect as a robust financial institution,” he remarked.