PACRA Upgrades IFS Rating of Pak-Qatar Family Takaful to A+
The Pakistan Credit Rating Agency (PACRA) has upgraded the IFS rating of Pak-Qatar Family Takaful Limited from ‘A’ to ‘A+’ with Stable Outlook. The Rating is dependent on the company management’s ability to successfully execute its business strategy of growth while preserving underwriting profitability.
Pak-Qatar Family Takaful Limited (PQFTL) is the pioneer Takaful company in Pakistan, operating since more than a decade and offering financial protection to everyone, with a history of robust profitability ratios.
The profitability of PQFTL has remained strong as compared to peers, reflecting a strong business profile. The growth pattern of this company has also remained high in recent years. Moreover, after having established an extensive nationwide branch network, PQFTL is now gradually expanding its wings through Alternate Distribution Channels (ADC).
The rating denotes a strong capacity to meet policy-holders and contract obligations. The rating also reflects the sustained market position of the company, having decent foothold in Bancatakaful.