| Standard & Poor's Ratings Services said Saturday that it has assigned its 'BBB' long-term counterparty credit and financial strength ratings to Riyadh-based Weqaya Takaful Insurance & Reinsurance Co. (Weqaya Takaful). The outlook is stable.
The ratings reflect Weqaya Takaful's strong capitalization and investments, and prospectively satisfactory competitive position and operating performance. Partially offsetting factors include the company's limited operational track record since its start-up in mid-2010, and the increasingly competitive nature of the Saudi Arabian insurance sector...............................................Full Article: Source
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