S&P: positive outlook for Saudi Re

S&P Global Ratings has upgraded Saudi Re's outlook from stable to positive. The reinsurer's long-term financial strength rating of "A-" and regional scale rating of "gcAAA" have been reaffirmed.

The rating agency expects Saudi Re to continue benefiting from favorable regulatory changes in the local insurance market while maintaining strong underwriting discipline and adequate capital levels over the next two years. The positive outlook reflects Saudi Re's solid competitive position, consistent underwriting performance, and adequate capital base.