Lahore, December 13, 2017 (PPI-OT):The rating incorporates the refined business strategy implemented by the new sponsor. The strategy encompasses innovation in its products and increased penetration in lower income segments.The strength of the new sponsor is evident from fresh injection of ~ PK 100mln at end Dec-16 – further equity of PKR 80mln was injected at end- Mar 17. The management of the company keeps to target certain segment of business. TPL Life has adopted a bottom life centric approach targeting low ticket business.
The company is going through the business process revamp pot acquisition; the management expects fruits of this exercise to emerge in the near future. An IPO is also expected soon. The approval in lieu of the IPO has been obtained from SECP and Stock Exchange. The rating is dependent on the company’s ability to execute its existing business plan in an efficient manner; herein, growth in top-line and underwriting profits are mandatory. Stagnant liquidity levels are pivotal for rating.
For more information, contact:
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425