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Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) announces that Moody’s has affirmed its Insurance Financial Strength Rating (IFSR) at A3, with a stable outlook.
| Element List | Explanation |
|---|---|
| Announcement Detail | Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) announces that Moody’s Ratings (Moody’s) on 29th April, affirmed the A3 insurance financial strength rating (IFSR) of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful), with stable outlook. Al Rajhi Takaful is a top tier multi-line insurer, underwriting motor, medical, property, engineering, protection and savings and various other personal lines products. The affirmation of Al Rajhi Takaful’s A3 IFSR reflects it’s: 1.strong market position and brand, as the third largest player in the Saudi Arabian insurance market. 2. good asset quality, driven by a conservative investment strategy as evidenced by a low ratio of high-risk assets. 3.consistently good profitability, with return on capital (ROC) of 15.9% for YE 2024, supported by a good, combined ratio. 4.low reserve risk, reflecting the predominance of short tail business in Al Rajhi Takaful’s business mix and good track record of reserving accuracy. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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