Riyadh – Mubasher: Saudi Arabian Cooperative Insurance Company (SAICO) has received a credit rating report from Simah Rating Agency (Tassnief) affirming its Insurance Financial Strength Rating at ‘-A’.
The rating agency simultaneously revised the company's future outlook from stable to positive, according to a bourse disclosure.
This affirmation is supported by several key pillars, including the company's operational performance resilience and financial stability.
Tassnif also highlighted the strength of the insurer's governance framework and risk management practices as primary drivers for the credit action.
Furthermore, the agency noted that the company maintains a conservative investment policy which contributes to its overall credit profile.
This outlook revision reflects the agency's expectations regarding the company's continued financial trajectory and risk-adjusted performance within the Saudi insurance market.
