PACRA Maintains IFS Rating of Sindh Insurance Limited - Press Release issued by The Pakistan Credit Rating Agency Limited.

Lahore -- August 28, 2019 (PPI-OT)

Following is the text of press release issued by The Pakistan Credit Rating Agency Limited (PACRA)

Quote

The rating reflects SIL's strong parentage - the Government of Sindh (GoS) and its ability to leverage on the same. "Universal Accidental Insurance Scheme (UAIS)", initiated by GoS, provided impetus to the company's business volume. The scheme has undergone a new regime, by virtue of which the premium size has squeezed though the cash balance has stayed with the company. It is enriching the company's alternative investment.

The business from this segment is reduced though still adding value to the company operations. Sindh Insurance has built market business via its linkage with Sindh Bank. To have a profitable growth in the market business is also important; the company has recently underwritten Sindh Engro Coal Mining (Phase-2), generating a good quantum of business annually. The company has...

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