LIVA receives ‘Baa2’ rating with positive outlook from Moody’s

LIVA Insurance Co. received a report from Moody’s rating agency, confirming a “Baa2” insurance financial strength rating (IFSR) with a positive outlook.

 

In a statement on Tadawul, LIVA said the rating reflects its strong capital adequacy, solid asset quality driven by a conservative investment strategy, adequate reserves, and moderate reserve risks.

 

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The company also noted that its profitability has improved following a change in management in the first quarter of 2023.

 

The positive outlook reflected Moody's confidence in the company's disciplined subscription growth, which is expected to drive profitability and expand its business in Saudi Arabia. This is further supported by its strong financial position and the resources provided by its strategic partner, LIVA Group.

 

LIVA Insurance achieved an Issuer Integrity Governance (IPS) score of G-2, reflecting its conservative financial approach, robust risk management, experienced leadership, strong board oversight, and support from key shareholders LIVA Group and Riyad Bank.