Moody’s affirms Walaa Cooperative Insurance’s rating at ‘A3’

WALAA
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Riyadh — Mubasher: Moody's Ratings has affirmed the insurance financial strength rating of Walaa Cooperative Insurance Company at ‘A3’, with a stable outlook.

The sovereign rating for Saudi Arabia was also affirmed at ‘Aa3’ with a stable outlook.

The rating reflects a recovery in the underwriting performance and total profitability of Walaa Cooperative Insurance during the first half (H1) of 2026.

Moody’s expects this improvement in financial performance to continue over the coming period, spanning the next 12 to 18 months.

The action underscores the company's strengthened financial position within the Saudi insurance market.

According to the disclosure, the stable outlook is supported by the expectation that the insurer will maintain its improved earnings trajectory and capital adequacy levels in the medium term.

In August, Fitch Ratings maintained the Insurer Financial Strength (IFS) rating of Walaa Cooperative Insurance at ‘A-’ and its National IFS rating at ‘AA+(sau)’.

Source: Mubasher Source: {{details.article.source}}