S&P rates Saudi National BBB

Standard & Poor's said it assigned a BBB long-term counterparty credit and insurer financial strength ratings to Saudi National Insurance Co. BSC.

The outlook is stable.

The ratings reflect a view of the company's good capitalization, and its satisfactory current and prospective earnings, S&P said.

The ratings also consider its good financial flexibility derived from its shareholders and conservative investment and liquidity policies, the agency said.

Partially offsetting these positive factors is general prudence concerning implementation of the company's new business strategy as an investor, S&P said.

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