Mutakamela’s rating affirmed at ‘A3’ with stable outlook by Moody’s

The rating is supported by several key factors, including strong asset quality resulting from a conservative investment strategy

Mutakamela Insurance Co. announced that Moody’s has affirmed its Insurance Financial Strength Rating (IFSR) at “A3” with a stable outlook.

This affirmation is an important indicator that reflects the company’s strong financial position, stability of operations, and its continued ability to meet policyholder obligations, as well as the support stemming from its majority ownership by ADNIC and the strategic alignment between these two groups, the insurer said in a statement to Tadawul.

The rating is supported by several key factors, including strong asset quality resulting from a conservative investment strategy, robust capitalization with a comfortable buffer above regulatory solvency requirements, and a solid market position within the Saudi insurance sector.

The rating also reflects the adequacy of technical reserves, which are set and monitored using sound actuarial methodologies, it added.

Mutakamela also emphasized that this rating further strengthens confidence among clients, investors, and business partners and reinforces its commitment to sustainable growth, strong risk management, and continuous enhancement of service quality.