Moody's affirms Al Rajhi Takaful's rating

Moody's has confirmed the “A3” financial strength rating of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful). The outlook remains stable.

The rating recognizes the insurer's position as the third largest player in the Saudi insurance market, with a turnover of 4.2 billion SAR (1.2 billion USD) in 2023.

The rating agency's decision was also based on the company's good asset quality, strong profitability and solid return on investment.