Stocks Observer. com

By Abdul  Qadir Qureshi The JCR-VIS Credit Rating Co. Ltd. (JCR-VIS), approved by the Securities & Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP),   has reaffirmed the Insurer Financial Strength (IFS) rating of Pakistan Reinsurance Company Limited (PRCL) at "AA" (Double A) for the year 2012. The outlook on the rating is stable. The JCR-VIS rating agency, a joint venture between Japan Credit Rating Agency, Ltd. (JCR) - Japan's premier rating agency, Vital Information Services (Pvt.) Limited (VIS) is acclaimed as Pakistan’s only independent financial research organization. The rating derives strength from the significant holding of Government of Pakistan in the company. Moreover, given that all insurance companies of Pakistan are mandated to offer 35% of their surplus business to PRCL in the form of cession, the company is expected to maintain a sizeable market share in premium ceded by the insurance industry. The JCR-VIS h...