Mubasher: Moody’s has affirmed the insurance financial strength rating (IFSR) of Gulf Insurance Group at ‘A3’, with a stable outlook.

The rating reflects the firm’s strong and leading position in its target markets as well as its well-established brand recognition in the region, according to a bourse statement released on Thursday.

The stable outlook reflects Moody’s prediction that the group “will maintain its solid market position and brand in its key markets with consistent profitable results, whilst also improving capitalisation through proactive capital management and reducing leverage levels further,” Moody’s said.