Walaa Cooperative Insurance Co. Announces that Moody’s affirm its A3 rating with Stable outlook.
| Element List | Explanation |
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| Announcement Detail | Walaa Cooperative Insurance Company announces that Moody’s Investors Service (Moody’s) has affirmed the A3 insurance financial strength rating (IFSR) of the Company (Walaa), the outlook remains stable. Moody’s stated that the rating affirmation reflects Walaa’s strong market position and brand, as the fifth largest insurer in Saudi Arabia, and good business diversification that limits its exposure to the highly competitive and price-sensitive retail motor and medical lines. Walaa’s financial profile is underpinned by strong asset quality, resulting from its conservative investment strategy, good capital and reserve adequacy, along with good financial flexibility given its low leverage and demonstrated access to capital.
For the details of the official announcement from Moody’s Investor Services, please see the attached press release by Moody’s. |
| Attached Documents |
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