JCR-VIS Credit Rating Company Limited has assigned an Insurer Financial Strength rating of A (Single A) to PICPL with a Stable outlook. Premier Insurance Company Limited was established in 1952 and has a long history in the insurance sector. Capital base has strengthened over the years through retention of earnings and the company has developed a strong earning assets portfolio. Net worth of PICPL has increased substantially, particularly over the last two and a half years, mainly from gains in equity investments (realized and un realized) and dividend income resulting in sufficient loss absorption capacity, which when viewed with the strong and stable reinsurance arrangements of the company, provides high capacity to meet policyholders and contract obligations. Though overall liquidity is adequate, the company has accumulated substantial insurance debt. However, JCR-VIS expects substantial and steady recovery against these debts over the next two years and progress on this front will be followed closely.