Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) is pleased to announce that S&P Global Ratings assigned its 'A-' long-term financial strength rating and (KSA AAA) Saudi national scale rating.
| Element List | Explanation |
|---|---|
| Announcement Detail | Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) is pleased to announce that S&P Global Ratings assigned its (A-) long-term financial strength rating and 'KSA AAA' Saudi national scale rating, both with stable outlook, on 18 October, 2023.
The ratings rational reflects: Kingdom’s third-largest insurer and the market leader in motor and protection and savings products, underpinning its solid competitive standing in the market. The stable outlook indicates expectation that despite the anticipated material business growth over 2023-2025, ART should retain capital adequacy consistent with our (A) benchmark, with the insurer's operating performance remaining in line with S&P’s base-case scenario |
Comments