LAHORE (PR) The Pakistan Credit Rating Agency (PACRA) has upgraded the IFS rating of the United Insurance Company (UIC) to AA with stable outlook. The UIC with over 110 branches is the fourth largest player in the insurance industry which has shown stability and sustainability from the past couple of years, a statement issued by PACRA said. PACRA said that the UIC has balanced portfolio representing all the segments of the insurance industry, its crop segment is three-quarters of a billion while Takaful business is above Rs 1 billion. The company ranks higher than the peer companies in terms of profitability which has added to its equity base. The company has a strong reinsurance panel and all the reinsurance entities are in the A category while one of its associates APNA Bank has seen a significant turnaround