S&P affirms 'A-' rating on Walaa Insurance with ‘Stable’ outlook

Logo of Walaa Cooperative Insurance Co.

Walaa Cooperative Insurance Co. said that Standard & Poor's credit rating agency affirmed its “A-” long-term insurer financial strength rating and “gcAAA” long-term GCC regional scale financial strength rating.

Additionally, the agency affirmed its “ksaAAA” long-term Saudi national scale financial strength rating on Walaa, with a stable outlook on the global and national scale ratings, the insurer said in a statement to Tadawul.