Wataniya Cooperative Insurance gets a BBB rating

S & P has granted the new insurance company, Wataniya Cooperative Insurance, a BBB rating with stable outlook. The company began operations in June 2010 from Jeddah. It operates in all lines of insurance except health.   The rating reflects its good capitalization (100 million RSA that is 26.7 million USD) and cash levels as well as its prudent investment strategy.