Worried that efforts by the new management of AICL
to sanitise the activities of its Subsidiaries are being frustrated as laid down agreements are blatantly disregarded', the lawmaker disclosed.
In addition to the financial support demonstrated by SLIC, the sponsor has also provided AICL
support through its marketing and business development avenues.
Window Takaful Operations shared a profit of Rs14,880 thousands to the overall profits of AICL
for the period ended 31 March 2017.
Best's view, AICL
has experienced good underwriting results, despite being impacted by catastrophe losses in 2010.
Best believes AICL
has a strong management team, adopting prudent strategies to serve the requirements of the local market and establishing a leading market position in Pakistan, with a 29% share of gross premiums written.
has a diversified customer base including banks, industrial units and corporate entities.
, a 100 per cent subsidiary of Air India Ltd (formerly, National Aviation Company of India Ltd), operates as a low-cost carrier from India to countries in the Gulf and Southeast Asia through its airline, Air India Express.
Rating draws strength from the significant stake of The State Life Insurance Corporation of Pakistan (SLIC) - the largest life insurance company in the public sector, in AICL
Furthermore, CRISIL draws comfort from GoIA[cent sign]a'[not sign]a"[cent sign]s commitment to provide an undertaking that its guarantee will remain unaffected by any infirmity or irregularity on the part of AICL
to undertake any of its obligations under the NCD programme; the guarantee will remain unaffected even if AICL
is referred to the Board for Industrial and Financial Reconstruction, or comes under the purview of the Sick Industrial Companies Act, or that of any other authority notified under any law with powers in respect of revival or rehabilitation of sick companies.
The new list included ABL, ACPL, AHL, AHSL, AICL
, AKBL, ANL, APL, ATRL, BAFL, BAHL, BOP, BOSI, DGKC, Engro, EPCL, FABL, FFBL, FFC, HBL, HUBCO, ICI, JOVC, JSCL, JSIL, KAPCO, Luck, Mari, MCB, NBP, NETSOL, NIB, OGDC, PAEL, PAKRL, PKGS, POL, PPL, PRL, PSO, PTCL, Shell, SNGP, SPL and UBL.
Muhammad Ali Zeb, CEO Adamjee Insurance commented, We are very honoured to receive this prestigious award, which clearly demonstrate the huge desire of AICL
to focus on corporate accountability, transparency and efficient reporting systems.