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Moody’s maintains Saudi Re's IFSR at A3

Moody’s maintains Saudi Re's IFSR at A3
The rating reflects Saudi Re’s strong brand and market position in Saudi Arabia
SAUDI RE
8200
45.36% 25.35 7.91

Riyadh – Mubasher: Moody’s Investors Service has maintained an ‘A3’ insurance financial strength rating (IFSR) for Saudi Re for Cooperative Reinsurance Company, with a stable outlook

The rating highlights Saudi Re’s strong brand and market position in Saudi Arabia, being the sole Saudi professional reinsurer, and its growing presence in its target markets of Asia, Africa, and Lloyd’s, according to a bourse disclosure on Wednesday.

Moreover, it captures its strong asset quality, good capital adequacy, and strong financial flexibility.

“The stable rating outlook reflects Moody’s expectation that Saudi Re will maintain its improved profitability whilst maintaining its strong assets quality, capital adequacy, and adequate level of reserves,” the statement read.

Maintaining this rating is predicted to promote Saudi Re’s competitive position and support its growth opportunities in the international markets.