S&P affirms Tawuniya’s ‘A’ credit rating, outlook Stable

Logo of the Company for Cooperative Insurance (Tawuniya)

The Company for Cooperative Insurance (Tawuniya) said that S&P Global Ratings has affirmed its credit rating at “A”, with a stable outlook, according to a Tadawul statement.

The insurer said that the rating is one of the key indicators that underscores the strength of the company’s financial position, risk management, governance, management efficiency, and others.

S&P assigned Tawuniya a stable outlook due to its expectations that the company will maintain its market-leading position and robust capital adequacy ratio (CAR), supported by its underwriting and investment activities over the next two years, the statement added.