Saudi reinsurance company ‘Re’ received an ‘A-‘ rating from Standard & Poor’s long-term credit rating agency and a regional scale ‘gcAAA’ rating, with stable outlook, according to its published report. on December 16, 2022.
Standard & Poor’s confirmed the continued strengthening of the company’s competitive position through profitable growth, as well as its success in diversifying through expansion into local and global markets. He also indicated that the company’s portfolio is limited to disasters and other major risks, while the company maintains a level of capital adequacy above the AAA level according to the S&P model.
The stable outlook for the rating reflects that Rea will maintain solid levels of capital adequacy over the next two years and continue to expand its business in a profitable and diversified manner.
The company expects this classification will help strengthen its competitive position and improve future business growth opportunities.
