Standard & Poor’s (S&P) has affirmed the BBB+ corporate credit rating of Saudi Reinsurance Co. (Saudi Re), with a ‘stable’ outlook, the insurer said in a statement to Saudi's bourse.
S&P also assigned its ‘gcAA’ Gulf Cooperation Council (GCC) regional scale rating to Saudi Re.
The rating reflects the insurer’s strong financial position and improved competitiveness in addition to risk management and the company’s liquidity, the company said.
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