Riyadh – Mubasher: Fitch Ratings has revised the outlook of Al Sagr Cooperative Insurance Company to stable from negative.
The credit rating agency affirmed the company’s Insurer Financial Strength (IFS) rating at ‘BBB’ and its National Insurer Financial Strength rating at ‘A+(sau)’.
The revision follows a previous update on 7 September 2025, which had placed the company on Rating Watch Negative.
According to the disclosure, the shift to a stable outlook reflects an improvement in underwriting performance during the first half (H1) of 2026. This performance was noted to be in line with broader market trends.
Fitch Ratings also cited enhancements in the company’s governance framework as a primary driver for the rating action.
The affirmation of the ‘BBB’ and ‘A+(sau)’ ratings indicates the agency's assessment of the insurer's capacity to meet its financial obligations.
Al Sagr Cooperative Insurance confirmed there are no costs associated with this rating update.
