Logo ofWalaa Cooperative Insurance Co.
Walaa Cooperative Insurance Co. announced that SP Global Ratings has affirmed the company’s long-term financial strength rating at “A-“, and assigned “ksaAAA” long-term Saudi national scale, and “gcAAA” long-term Gulf Cooperation Council (GCC) regional scale financial strength ratings. 
The rating is supported by the high capital adequacy, which remains comfortably above SP’s 99.99% benchmark, the insurer said in a statement to Tadawul.
However, SP has revised its outlook on Walaa’s ratings to “Negative” from “Stable” due to the continued underperformance relative to peers rated at “A-“, both in Saudi Arabia and the wider GCC region.
Logo ofWalaa Cooperative Insurance Co.
Walaa Cooperative Insurance Co. announced that SP Global Ratings has affirmed the company’s long-term financial strength rating at “A-“, and assigned “ksaAAA” long-term Saudi national scale, and “gcAAA” long-term Gulf Cooperation Council (GCC) regional scale financial strength ratings.
The rating is supported by the high capital adequacy, which remains comfortably above SP’s 99.99% benchmark, the insurer said in a statement to Tadawul.
However, SP has revised its outlook on Walaa’s ratings to “Negative” from “Stable” due to the continued underperformance relative to peers rated at “A-“, both in Saudi Arabia and the wider GCC region.
