Mubasher: Gulf Insurance Group said that Moody’s Investors Service affirmed the group’s financial strength rating (FSR) at “A3”, with a “Stable” Outlook.

The group’s “A3” rating for its FSR reflects Gulf Insurance’s position to repay its dues and liabilities as scheduled, according to a bourse statement on Sunday.

Moody’s noted that the “Stable” Outlook for Gulf Insurance may reflect a weak possibility to change the credit rating on the medium term.

Return on capital reached 10.6% in fiscal years from 2012 to 2017, backed by consolidated losses of 94.5% in the past five years.

At the stock level, Gulf Insurance closed Sunday’s group 0.78% higher at 645 fils.