Riyadh - Mubasher: Moody’s Investor Service has upgraded the insurance financial strength rating (IFSR) of the Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) to ‘Ba1’ from ‘B1’, with a positive outlook.

The outlook on the company has been changed to positive from rating under review position, according to a bourse disclosure on Wednesday.

Upgrading the company’s IFSR reflects a strong market position and brand, a good asset quality, and a low reserving risk.