Tawuniya gets ‘A-ʼ rating, ‘stable’ outlook from S&P

Logo of The Company for Cooperative Insurance

The Company for Cooperative Insurance (Tawuniya) obtained a credit rating of “A-” with a “stable” outlook from Standard & Poor's Global Ratings (S&P) on April 19.

In its report, S&P said that Tawuniya was granted this rating based on a set of strengths factors, most notably its strong competitive position, capital adequacy, and strong financial performance, supported by profitable underwriting and investment income, the insurer said in a filing to Tadawul today, April 20.

The ratings agency issued a “stable” outlook for the insurer with expectations that it will maintain strong operating performance and market-leading position, while improving its capital adequacy over the next two years.