Positive outlook: EFU’s rating goes up
The company has also implemented a comprehensive Enterprise Resource Planning (ERP) system in 2013.
KARACHI:
JCR-VIS Credit Rating Company Limited has upgraded the Insurer Financial Strength Rating of EFU General Insurance Limited (EFU) from ‘AA’ (Double A) to ‘AA+’ (Double A Plus). Outlook on the assigned rating is expected to remain stable. The rating indicates EFU’s position as a dominant player in the private insurance sector in Pakistan. The assigned rating depicts the company’s increased efforts to meet obligations of policyholders. The company has also implemented a comprehensive Enterprise Resource Planning (ERP) system in 2013. The new system is expected to enhance the internal control efficiency while improving Management Information System (MIS) reporting.
Published in The Express Tribune, December 13th, 2013.
JCR-VIS Credit Rating Company Limited has upgraded the Insurer Financial Strength Rating of EFU General Insurance Limited (EFU) from ‘AA’ (Double A) to ‘AA+’ (Double A Plus). Outlook on the assigned rating is expected to remain stable. The rating indicates EFU’s position as a dominant player in the private insurance sector in Pakistan. The assigned rating depicts the company’s increased efforts to meet obligations of policyholders. The company has also implemented a comprehensive Enterprise Resource Planning (ERP) system in 2013. The new system is expected to enhance the internal control efficiency while improving Management Information System (MIS) reporting.
Published in The Express Tribune, December 13th, 2013.