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) with a stable outlook.

The rating reflects the insurer's position as the third largest player in the Saudi insurance market. In 2021, Al Rajhi Takaful has recorded a 2.76 billion SAR (734.97 million USD) turnover.

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