Press Release
JCR-VIS Reaffirms the IFS Rating of East West Insurance Company Limited at A-
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citalopram and alcohol withdrawal readDuring 2010, the company experienced decline in business volumes. The decline is primarily attributable to competitive premium rates, compressing underwriting margins in most of the business segments. While the company’s core operations have been profitable in the past, underwriting results for nine months were almost at breakeven.
The valuation of investment portfolio has bottomed out. Funds realized from divestment of equity exposures are being channeled into low-risk money market investment schemes. This is expected to provide stability to investment income, going forward. Cash flows from operating activities were negative in the nine month period ended September 2010. Future trends in this respect will continue to be monitored for impact on overall liquidity profile.
For further information on this rating announcement, please contact the Syed Ziauddin Ahmed (Ext: 508) or Ms. Sobia Maqbool, CFA (Ext: 506) at (+92-21) 35311861-70 (10 lines) or fax to (+92-21) 35311873.
Faheem Ahmad
President & CEO Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright January 03, 2011 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.