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Press Releases

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.

Saudi Re Receives A3 Insurance Financial Strength Rating (IFSR) From Moody’s, with stable outlook.






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.”

Standard & Poor's Affirms Rating BBB + (Stable) pour Saudi Re

Riyadh, Standard & Poor’s (S&P) has affirmed Saudi Re’s financial strength rating at BBB+ with a stable outlook and also regional scale rating at gcAA+. The rating considered curtain strength areas including the very well capitalization position with capital adequacy above 'AAA' benchmark in addition to certain regulatory benefits, which could support further business growth in Saudi Arabia. The rating further considers other factors including enterprise risk management, financial liquidity.