KARACHI - The Pakistan Credit Rating Agency (PACRA) has maintained the Insurer Financial Strength (IFS) rating of Adamjee Insurance Company Limited (AICL) at AA (Double A). The rating denotes a very strong capacity to meet policyholder and contract obligations, and risk factors are considered modest, says a press release. The rating reflects AICLs ability to sustain its leading position in the insurance sector despite intense competition and subdued economic environment. However, the companys underwriting margins remain thin. The management, while identifying new growth avenues, is rationalizing its cost structure to improve core performance.