Press Release

JCR-VIS reaffirms IFS rating of The Cooperative Insurance Society of Pakistan Limited at C
 

Karachi, December 26, 2007: JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the Insurer Financial Strength (IFS) rating of The Cooperative Insurance Society of Pakistan Limited at ‘C’ (Single C) with ‘Stable’ outlook.

During the on-going financial year, the society has been able to settle a claim liability outstanding since FY04. The management is considering some options to enhance the financial strength of the society and ratings will be reviewed if any positive developments take place on this front. Meanwhile, business volumes have remained limited while support from quality re-insurers is also not available to the society.

For further information on this rating announcement, please contact Syed Ziauddin Ahmed (Ext: 508) or Ms. Sobia Maqbool (Ext: 506) at 5311861-70 (10 lines) or fax to 5311872-73.



Faheem Ahmad
President & CEO

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Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited 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.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.VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings.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 2007 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.

JCR-VIS Credit Rating Company Limited