S&P affirms Walaa Cooperative Insurance's rating

Standard & Poor's has affirmed Walaa Cooperative Insurance's “A-” financial strength rating as well as its regional “gcAAA” and national “ksaAAA” ratings.

The “gc” rating is used to assess companies operating in the Gulf Cooperation Council (GCC) countries. The outlook for these ratings remains stable.

In December 2024, the Saudi insurer finalized a SAR 468 million (SAR 124.7 million) capital increase. This operation will enable the company to support its growth strategy and improve its solvency margin.