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Credit Ratings Affirmation: AM Best has affirmed Adamjee Insurance Company Limited's Financial Strength Rating of B (Fair) and Long-Term Issuer Credit Rating of "bb" (Fair), with a negative outlook due to pressures on its non-life underwriting performance despite strong overall profitability.
Balance Sheet and Risk Assessment: Adamjee's balance sheet strength is assessed as adequate, but it faces significant investment risk and high dependence on reinsurance, while its enterprise risk management is viewed as marginal due to exposure to economic and political risks in Pakistan.
