ISLAMABAD: According to a news statement, the Pakistan Credit Rating Agency (PACRA) raised the United Insurance Company of Pakistan’s (UIC) IFS Rating to AA+.
An impartial assessment of a company’s ability to fulfill policyholder and contract commitments is known as the Improved Insurer Financial Strength (IFS) rating.
The company has been upgraded from its previous rating of AA with a stable outlook.
Founded in 1959, the UIC is a publicly traded company that operates through a vast network of over 110 branches, most of which are located in northern Pakistan.
Under the strategic direction of its Chairman, Mian MA Shahid, an insurance veteran, the company is a member of United International Group (UIG).
It should be noted that the business is a success story that has been growing steadily for many years. The UIC’s overall business volume has grown quickly, reaching 6.75 billion rupees in a brief period of time.
UIC has become one of the top four insurance firms in Pakistan thanks to its highly skilled and experienced management, best practices, innovation, customer-friendly approach, and committed workforce.
According to UIG Group Country Manager Ghulam Murtaza, our senior management is extremely talented, driven, and experienced, and they prioritize customer service above all else, which is essential to the business’s success.
According to him, UIG would keep contributing to Pakistan’s economic growth.
A company cannot succeed if it ignores customer happiness. A high degree of customer satisfaction is likely to result from a positive encounter. He stated that in order for insurance businesses to expand, they must operate in their clients’ best interests.
2022 Copyright Business Recorder