Saudi Reinsurance Company “Saudi Re” Announces Maintaining A3 Insurance Financial Strength Rating (IFSR) By Moody’s

Saudi Reinsurance Company “Saudi Re” Announces Maintaining A3 Insurance Financial Strength Rating (IFSR) By Moody’s

Saudi Re is pleased to announce maintaining A3 Insurance Financial Strength Rating (IFSR) by Moody’s Investor Service, with stable outlook according to the credit opinion report announced on 09 December 2021.

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) preferential position in Saudi market due to a right of first refusal on a portion of premiums ceded by primary carriers in the Saudi market, (iii) strong asset quality exemplified by its conservative investment portfolio, (iv) good capital adequacy, both in terms of capital levels, and relatively modest exposure to natural catastrophe risk, and (v) strong financial flexibility with non-existent leverage and good access to capital markets in Saudi Arabia given its listing on the Saudi stock exchange, and broad investor base.