PACRA Maintains IFS Rating of Asia Insurance Company Limited

Lahore, December 12, 2018 (PPI-OT): Asia Insurance is emerging fast amongst small-sized general insurance companies. It is characterized by a) premium expansion, b) strong liquidity and c) good coverage to liabilities. Underwriting performance has improved significantly with a gradual uptick in business volumes coupled with operational efficiencies. The company’s stature has benefited from a recent equity stake taken up by Insu Resilience Investment Fund, supported by the German Developed Bank KFW and managed by Switzerland based Impact Investment Manager Blue Orchard Finance.

This has boosted the company’s liquidity. The governance structure is also improving with the induction of a board member from Blue Orchard. The business synergies are also expected to materialize. The company foresee significant expansion in the business with more diversification in the product portfolio. The Positive Outlook captures the company’s improved liquidity and future plans towards exacerbated growth. The translation into performance is considered positive.

For more information, contact:
Analyst
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
Email: hammad.rashid@pacra.com
Web: www.pacra.com

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