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Saudi Re is pleased to announce that it has been assigned an A3 Insurance Financial Strength Rating (IFSR)  by Moody’s Investors Service, with stable outlook.

 

The A3 IFSR of Saudi Re reflects its: (i) strong brand and market position in Saudi Arabia as the sole Saudi professional reinsurer as well as a growing presence in its target markets of Asia, Africa and Lloyd’s, (ii) strong asset quality exemplified by its conservative investment portfolio, (iii) good capital adequacy, (iv) and strong financial flexibility.

 

Furthermore, the stable rating outlook reflects Moody’s expectation that Saudi Re will maintain its recent improvements in profitability whilst maintaining its strong assets quality, capital adequacy and adequate level of reserves.

 

Fahad Al-Hesni, Saudi Re’s Managing Director & CEO, commented “We are very pleased to receive the A3 rating from Moody’s which will further reinforce the confidence of our clients, partners and shareholders in Saudi Re. The rating is expected to further strengthen Saudi Re’s competitive position and support its growth plans in the international markets.”