Al Etihad Cooperative Insurance Company announces that Moody’s Ratings affirmed its Insurance Financial Strength Rating at (A3) and changed its outlook to negative from stable.
The affirmation of company’s A3 IFSR reflects its good market position and brand, good asset quality driven by a conservative investment strategy, strong capital adequacy, and good through-the-cycle profitability, with a five-year average return on capital (ROC 5yr) of 7.7% in 2024, supported by a good five-year average combined ratio (COR 5yr) of 95.2%.