Rating Rationale:

Alpha Rating affirms long term credit rating "A" (Pronounced as 'Single A') and short-term credit rating "ST-3" in favor of Chartered Life Insurance Company Limited (herein after referred as 'CLICL or the company'). The rating is based on the audited financial statement from FY 2017 to FY 2020 and other qualitative information. While assigning the rating Alpha Rating has considered both favorable and unfavorable movement in overall performance of the company. The rating mainly considers increased total assets base, growth in gross premium of 1* year, renewal & group insurance, growing maintaining pre-tax income, management expense, progressive life fund, adequate solvency, increased investment, Actuarial surplus etc. The rating has also allowable considered qualitative aspects of the company such as experienced management team, qualified board of directors, adequate internal control and satisfactory information technology etc.