Saudi Arabia:Moody's affirms ICIEC's ratings with stable outlook for the 14th consecutive year

25 Jul 2021

The profitability of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) was resilient in 2020, with a combined ratio of 43.7% and net income of Islamic Dinar 6.2m ($8.8m) in 2020 which, despite the pressures from the coronavirus pandemic, remained relatively similar to 2019's combined ratio of 39.9% and net income of Islamic Dinar 6.6m, notes Moody's Investor Service.

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