Press Release
JCR-VIS revises the IFS Rating of East West Insurance Company Limited to BBB+
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5mg melatonin and pregnancy taxelsson.comThe revision in rating takes into account the reduction in loss absorption capacity of the institution. This is despite the recently announced equity injection of Rs. 25m, as equity has experienced significant erosion from end-2007 level, when the rating was last revised upwards. This erosion was due to losses on investments. Although re-insurance panel of the company is sound, EWI bears a significantly larger proportion of risk on its own account compared to its peers, in view of which a larger equity cushion is required.
Overall profitability was significantly compromised in 2009, though there has been an improving trend in the same, thereafter. Investment management function may be strengthened to provide support to profitability. Insurance debt is within manageable limits.
For further information on this rating announcement, please contact the undersigned (Ext: 508) or Ms. Sobia Maqbool, CFA (Ext: 506) at (+92-21) 35311861-70 (10 lines) or fax to (+92-21) 35311873.
Syed Ziauddin Ahmed
Advisor 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 18, 2012 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.