Press Release

JCR-VIS Suspends Rating of National Insurance Company Limited
 

Karachi, March 21, 2012: JCR-VIS Credit Rating Co. Ltd. (JCR-VIS) has suspended the Insurer Financial Strength (IFS) rating of National Insurance Company Limited (NICL), with immediate effect. In the absence of Board of Directors, the financial statements for the year ended December 31, 2010 have so far not been approved. Furthermore, in the absence of any approving authority, interim results for 2011 have also not been shared with JCR-VIS.

The rating will be re-assessed once latest financial statements are made available.

For further information on this rating announcement, please contact Ms. Sobia Maqbool, CFA (Ext: 506) or Syed Ziauddin Ahmed (Ext: 508) at 021-35311861-70 (10 lines) or fax to 021-35311872-3.



Jamal Abbas Zaidi
Deputy CEO

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Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. JCR-VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2012 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited