PACRA Maintains IFS Rating Of Pak-Qatar General Takaful At “A”
Lahore: March 15, 2015– The Pakistan Credit Rating Agency (PACRA) has maintained the Insurer Financial Strength (IFS) of Pak-Qatar General Takaful Limited at ‘A’ (Single A).The rating assigned to PQGTL recognizes its strong capacity to meet policy-holders’ and contract obligations, while it also reflects sound risk-absorption capacity of the company, due to its adequate capitalization and liquidity profile.
The PACRA report stated that; Pak-Qatar General Takaful – being an early entrant in Islamic insurance (Takaful); both General and Life – has achieved good brand recognition. This gives strength to PQGTL’s business profile.The Chief Executive Officer of PQGTL – Mr. Javed Muslim stated, “It is a pleasure for us to see that the robust performance of PQGTL, in all aspects of its business, has also been recognized by a credible rating agency like PACRA. It is a reflection of the consistent hard work of our highly competent team. I congratulate all team members for winning this strong financial stature and respect as a robust financial institution.”
About the Company:
Amongst the pioneers of Takaful in Pakistan, Pak-Qatar General Takaful Limited offers comprehensive products’ portfolio for the national Takaful market. Pak-Qatar General Takaful Limited is chaired by Sheikh Ali bin Abdullah al-Thani, member of Qatar’s Royal Family, and sponsored by leading financial institutions of the State of Qatar. Pak-Qatar General Takaful Limited is present in all major cities of Pakistan. The Company is amongst the first, and the most active, in vitalizing the retail Takaful market in Pakistan. The Company is the recipient of several domestic and international awards and nominations. Moreover, the Company has strong Re-Takaful arrangements with leading international re-takaful operators. An ever-vigilant Shariah Advisory Board of renowned and erudite scholars steers the Company in a direction that suits a Shariah-compliant business entity, thereby ensuring commitment to very high professional and professional standards