Saudi Re Receives AA+ Insurance Financial Strength Rating (IFSR) From SIMAH’s Credit Rating Agency (Tassnief) with stable outlook
Saudi Re is pleased to announce that it has been assigned an AA+ Insurance Financial Strength Rating (IFSR) by SIMAH’s Credit Rating Agency, Tassnief, with stable outlook.
According to the rating issued on on 26 Sep. 2018, the AA+ Rating of Saudi Re reflects its strong financial profile supported by its strong equity base and debt-free capital structure. It also incorporates the strength of the business profile having a well-established franchise in the key targeted markets that the company operates in, as well as the improved level of diversification for the international business, and the entry into the Lloyd’s market and a well diversified GPW mix among the major lines of business. Furthermore, the report noted the sound governance framework, conservative investment policy, improved underwriting procedures and risk management techniques which resulted in an improvement in technical performance of the Saudi Re.
