KARACHI: Pak-Qatar General Takaful Limited IFS (Insurer Financial Strength) rating has been upgraded to ‘A-’ (Single A Minus) from ‘BBB+’ (Triple B Plus) by the JCR-VIS Credit Rating Company Limited. The outlook on the assigned rating has been designated as ‘Stable’. The assigned rating incorporates the ownership structure of PQGTL; comprising prominent Qatar based financial institutions, whereby sponsors have demonstrated financial support, with equity injection of Rs. 33.7 Million and a further commitment of Rs. 66.3 Million in 2013. Improvement in results of the Shareholders’ Fund has contributed positively to aggregate capitalization indicators in FY12. Liquidity profile of the company is considered sound with insurance debt maintained within manageable limits and ageing of outstanding claims is also satisfactory. Losses from underwriting operations have been curtailed on account of reduction in expense ratio, achieved as a result of business growth.