Moody's maintains ‘A3’ rating on Saudi Re, revises outlook to ‘Positive’

09/11/2023 Argaam
Logo ofSaudi Reinsurance Co. (Saudi Re)

Logo of Saudi Reinsurance Co. (Saudi Re)

Saudi Reinsurance Co. (Saudi Re) announced that Moody’s Investor Service changed its outlook for the company from “Stable” to “Positive”, and reaffirmed the company’s classification as A3 Insurance Financial Strength Rating (IFSR) and A1.sa national scale IFSR.

 

In a statement to Tadawul, Saudi Re pointed out that the positive outlook reflects Moody’s expectation that the insurer’s business diversification and premium volume will grow significantly over the next 12 to 18 months, and its outlook of the company’s accelerating capital that will support the expanded business scope.

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