Subscribe to get the latest news & updates.
Karachi, Monday, May 11, 2015 – Jubilee Life has become the first life insurance company in the private sector to be assigned the Insurer Financial Strength(IFS) Rating of AA+ (Double A Plus). Outlook on the assigned rating is ‘Stable’. This rating was assigned by the JCR-VIS Credit Rating Co.Ltd.
Building a strong financial capacity while maintaining a robust growth in business has led to a progressive upgrade in IFS ratings assigned to Jubilee Life over the years.
The company’s business profile also derives strength from impressive growth in fresh business volumes and strong renewal persistency stemming from superior customer facilitation and competitive returns on investments. While maintaining strong solvency position, the net profits of the Company have showcased a health growth in line with increasing business volumes.
“The assigned IFS rating in only a testament of Jubilee Life’s financial strengths. Our capitalization and exceptionally strong solvencylevels demonstrate our strong capacity to meet policyholders’ liabilities” said Javed Ahmed, Managing Director and Chief Executive Officer of Jubilee Life. “Continuing to follow a strategy of high growth in topline with sustainable profitability, Jubilee Life remains committed to being the best-value life insurance enterprise for its customers, employees, business partners, shareholders and the society” he added.
Jubilee Insurance is a global brand of Aga Khan Fund for Economic Development (AKFED) that offers diverse insurance solutions (life, health and general) in the Asian and East African markets. Jubilee Life in Pakistan offers uniquely designed range of life and health insurance plans, catering to various customer segments and needs. These include retirement, child education, marriage, saving & protection, wealth accumulation, life insurance plans for women, rural insurance plans and life and health insurance solutions for the less privileged of our country.