Moody’s affirms Malath financial rating at ‘Baa2’ with ‘Stable’ outlook

Malath Insurance branch

Moody’s International Credit Agency affirmed the “Baa2” Insurance Financial Strength Rating (IFSR) of Malath Cooperative Insurance Co. with a ‘Stable’ outlook, the insurer said in a bourse filing.

This rating reflects the insurer’s robust foothold and brand in Saudi Arabia, strong asset quality driven by a conservative investment strategy, as well as the insurer’s good capital adequacy ratio.