Press Release

JCR-VIS reinstates Insurer Financial Strength Rating of Takaful Pakistan Limited

Karachi, March 27, 2018: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reinstated the Insurer Financial Strength Rating of ‘BBB+’ (Triple B Plus) assigned to Takaful Pakistan Limited (TPL) with immediate effect. The outstanding rating has been placed on ‘Rating Watch - Developing’ status in view of change in sponsors and key management personnel. JCR-VIS will continue to monitor company’s developments and update the rating upon finalization of the planned equity injection.

For further information on this rating announcement, please contact the undersigned (Ext: 201) or Mr. Jamal Abbas Zaidi (Ext: 207) at 021-35311861-70 or fax to 021-35311873.




Javed Callea
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 March 27, 2018 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.