JCR-VIS Credit Rating Company Limited (JCR-VIS) has maintained the Insurer Financial Rating of Reliance Insurance Company Limited (RICL) at 'A' (Single A). Outlook on the assinged rating has been revised from 'Stable' to 'Positive'
'A with Positive Outlook’
The assigned rating to RICL incorporates strong liquidity profile, adequate capitalization indicators and reinsurance program along with improving underwriting performance. The assigned rating to RICL, incorporte strong liquidity profile adequate capitalization induction and reinsurance programme alongwith the improving underwriting performance.
Reliance Insurance Company Limited (RICL) is backed by Amin Bawany and Al-Noor Group of Companies, two prominent industrial groups having presence across several sectors including suger.
Gross premiums crossed Rs. one billion during 2014. The rating incorporate sound capitalization level of the company that has strengthened over time on the back of retained earnings
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