Moody's upgrades Walaa's outlook

ANB Walaa Cooperative InsuranceMoody's affirmed the A3 financial strength rating (IFSR) of Walaa Cooperative Insurance's. The outlook shifts from negative to stable.

The rating agency justified its decision by the strong market position of the Saudi insurer, the good quality of its assets and its high level of capital adequacy.

The change in outlook reflects the success of the merger between Walaa and Metlife AIG ANB Insurance.

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