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Saudi Reinsurance Company (Saudi Re) has announced that Moody’s has maintained its Insurance Financial Strength Rating (IFSR) at A3 with a stable outlook.
Based on Moody’s report, Saudi Re’s A3 IFSR rating reflects its strong market position and brand in Saudi Arabia as the sole professional reinsurer in the Kingdom, combined with its asset quality strength as manifested in its conservative investment portfolio, along with its growing presence in the target markets of Asia, Africa, and Lloyd’s in the UK.
The stable outlook rating is expected to further strengthen Saudi Re’s competitive position and increase business growth opportunities in the global markets.