Fri Nov 11, 2011 5:12am EST
(The following statement was released by the rating agency)
– Weqaya Takaful Insurance & Reinsurance Co.’s capitalization remains strong relative torisk, despite previous high depletion of shareholders’ funds due to start-up and earlyoperational costs.
– In our opinion, the company’s business profile in its domestic Saudi Arabian market will improve to a satisfactory level by 2013, bringing at least adequate, sustainable earnings.
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