Pakistan Credit Rating Agency Limited Maintains Insurer Financial Strength Rating of TPL Direct Insurance Limited
Lahore: The Pakistan Credit Rating Agency (PACRA) has maintained the Insurer Financial Strength (IFS) rating of TPL Direct Insurance Limited (TDIL) at ‘A-’ (single A minus). The rating denotes strong capacity to meet policyholder and contract obligations. At the same time, risk factors are considered moderate, and the impact of adverse and economic factors is expected to be limited.
The rating reflects TDIL’s business strategy to capture a sizable share in a developing market niche – personal lines insurance – supported by robust technology platform, and quality systems and processes.
The business model envisages use of advanced technology and comprehensive evaluation of risk prior to writing it. TDIL’s profitability, currently limited, is expected to improve mainly on account of targeted expansion in the product mix. The ease in the financial risk profile of TDIL, following injection of fresh capital, is a key rating consideration.
For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town, Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425