S&P assigns ‘A’ credit rating to Tawuniya; outlook ‘stable’

Standard & Poor’s (S&P) has assigned The Company for Cooperative Insurance (Tawuniya) an “A” credit rating with a “stable” outlook, the insurer said in a statement to Tadawul.

The rating was said to reflect the company’s “strong financial position, risk-management strategy, corporate governance tools and efficient management”.

According to S&P’s ratings definitions, firms that receive an “A” rating are seen as having a strong capacity to meet their financial commitments, while they are still to some degree susceptible to negative effects related to economic conditions and changes in circumstances.