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TPL Insurance achieves AA- IFS rating

LAHORE – The credit rating of TPL Insurance has been upgraded to AA- with a stable outlook, following a statement issued by Pakistan Credit Rating Agency (Pacra). The rating reflects TPL Insurance’s strong financial position, steady growth of premiums and robust operational capabilities. Throughout the Covid-19 pandemic, the company has capitalised on its digitally advanced infrastructure, and shown consistent growth through effective risk management practices in a challenging economic environment. In April 2021, DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, a wholly-owned subsidiary of KfW group based in Cologne, Germany – made an equity investment of $3million in the company with a 19.9 per cent stake. TPL Insurance has a record of disrupting the paradigm of the industry as Pakistan’s leading Insurtech. Commenting on the occasion CEO TPL Insurance, Muhammad Aminuddin said, “This upgrade by Pacra to AA- resonates TPL Insurance’s mission to create sustainable value for our customers, stakeholders and employees. We would like to thank them for their enduring support as we look forward to set new benchmarks in the industry.”

 

 

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