Karachi, March 31, 2022 (PPI-OT): VIS Credit Rating Company Limited (VIS) has modified the Rating Scale for Insurer Financial Strength (IFS) rating to create a clear distinction in symbols and definitions of IFS Ratings. The IFS rating of Pakistan Reinsurance Company Limited of ‘AA’ (Double A) has accordingly been harmonized at ‘AA+(IFS)’ (Double A Plus IFS). The revised scale may be found in the relevant methodology available on VIS’ website. The IFS rating of ‘AA+(IFS)’ denotes very strong capacity to meet policy holders and contract obligations. Risk factors are very low, and the impact of any adverse business and economic factors is expected to be very small. Outlook on the assigned rating is ‘Positive’. The previous rating action was announced on December 28, 2021.

For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/