Pak-Qatar General Takaful IFS rating upgraded to A-

Pak-Qatar General Takaful IFS rating upgraded to A- Karachi: June 24, 2013 – Pak-Qatar General Takaful Limited IFS (Insurer Financial Strength) rating has been upgraded to ‘A-’ (Single A Minus) from ‘BBB+’ (Triple B Plus) by the JCR-VIS Credit Rating Company Limited. The outlook on the assigned rating has been designated as ‘Stable’. The assigned rating incorporates the ownership structure of PQGTL; comprising prominent Qatar based financial institutions, whereby sponsors have demonstrated financial support, with equity injection of Rs. 33.7 Million and a further commitment of Rs. 66.3 Million in 2013. Improvement in results of the Shareholders’ Fund has contributed positively to aggregate capitalization indicators in FY12. Liquidity profile of the company is considered sound with insurance debt maintained within manageable limits and ageing of outstanding claims is also satisfactory. Losses from underwriting operations have been curtailed on account of reduction in expense ratio, achieved as a result of business growth. About Pak-Qatar Family Takaful Limited: Pioneer of Family Takaful in Pakistan, Pak-Qatar Family Takaful Ltd. today has presence in all major cities of Pakistan and is expanding its branch network for Individual and Corporate members further to achieve its vision of providing financial protection to everyone through Takaful. In addition to Individual and Group products, the Company has strategic BancaTakaful partnerships with leading national financial institutions to cater to its clientele’s needs. The Company is registered with and supervised by Securities and Exchange Commission of Pakistan (SECP), and has a current rating of “A (Having Stable Outlook)” by JCR-VIS Credit Rating Co. Ltd. Pak-Qatar Family Takaful Ltd.’s paid-up capital stands today in excess of Rs. 700 million, with the Company being sponsored by some of the strongest financial institutions from the State of Qatar. Consequently, all financial indicators point towards record-breaking successes for the Company in the future.