Riyadh – Mubasher: SIMAH's Credit Rating Agency (Tassnief) has maintained that the financial strength rating of Saudi Re at “AA+” with a stable outlook.
The rating reflects the company’s strong financial profile supported by its strong capitalization, with solvency levels of the company well above the requirement, according to a bourse statement on Tuesday.
Moreover, it incorporates the strength of the business profile having a well-established franchise in the key targeted markets that the company operates in, as well as the improved level of diversification for the international business.
It also reflects the firm’s well-diversified GPW mix among the major lines of business.
Tassnief noted the strong governance framework, experienced management team, and sound financial profile and investment strategy.
“The rating also reflects the improvement in profitability and scale of the company that has been built over the years,” the statement highlighted.
