On August 11, 2026, Al Etihad Cooperative Insurance Company announced that Moody's Ratings downgraded its Insurance Financial Strength Rating (IFSR) to Ba1 from Baa2, placing the rating on review for further downgrade. The downgrade reflects a material decline in the company's capital position following losses in the first half of 2026 and year-end 2025, with shareholders' equity declining 20.5% to SAR 357 million from SAR 450 million at YE 2025. The review will focus on management's ability to improve underwriting performance and restore capital buffers. Moody's also noted positive factors, including the company's mid-market position in the Saudi Arabian insurance market, conservative investment strategy, and a relatively low level of high-risk assets at 51.8% of shareholders' equity at YE 2025.

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