S&P affirms BBB+ rating on Saudi Re with stable outlook

16/05/2018 Argaam

 

S&P Global Ratings has affirmed its ‘BBB+’ rating on Saudi Re for Cooperative Insurance Co. with a stable outlook, the insurer said in a bourse statement.

 

The credit agency has also assigned a ‘gcAA+’ long-term GCC regional scale financial strength credit rating to Saudi Re.

 

The outlook reflects the company’s strong financial position, increased business growth opportunities and other factors related to risk management, managerial efficiency and financial solvency, the statement added.

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