Saudi news

Moody’s maintains the rating of “Al Rajhi Takaful” at A3

Al-Rajhi Cooperative Insurance Company “Al-Rajhi Takaful” announced today, Wednesday, the maintenance of the Insurance Financial Strength (IFSR) credit rating at category A3 from Moody’s, with a stable outlook.

Al-Rajhi Takaful said in a statement on Tadawul Saudi Arabia that the insurance financial strength rating (IFSR) in category A3 reflects the strength of the financial position and the brand.

Considering that “Al Rajhi Takaful” is the third largest company in the insurance market, strong asset quality and good profitability with continued return on capital (ROC) and low reserve adequacy risks, in addition to the quality of the combined ratio.

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