Moody’s has affirmed the Islamic Cooperation for the Insurance of Investment and Export Credit’s Aa3 Insurance Financial Strength Rating (IFSR), with a stable outlook for 2026.

The ICIEC, in a statement on Sunday, said Moody’s cited its strengthening standalone credit profile, including its role as a leading multilateral provider of Shariah-compliant export credit and investment insurance and reinsurance solutions.

The Shariah-based multilateral insurer noted that the affirmation reflected the agency’s ongoing confidence in the corporation’s strong financial fundamentals and strategic importance as a member of the Islamic Development Bank (IsDB) Group.

“The agency highlighted improved underwriting performance supported by enhanced risk management, strong asset quality and liquidity, and strong capital adequacy. The Corporation’s preferred creditor status among its member countries further reinforces its financial strength and institutional standing,” the statement said.

According to the ICIEC, the rating also benefitted from strong institutional and shareholder support from the IsDB and sovereign shareholders, including Saudi Arabia.

Khalid Khalafalla, chief executive officer of ICIEC, described the affirmation as a strong endorsement of ICIEC’s financial resilience and its ability to manage risks effectively in an increasingly complex global environment.

“It strengthens our position as a trusted multilateral partner, enabling us to expand our reach, mobilise investment and deliver meaningful development impact across our member countries through innovative Shariah-compliant insurance solutions,” Mr Khalafalla explained.

The statement added that Moody’s also identified ICIEC’s exposure to geopolitical risks and its smaller operational scale relative to peers as moderating factors.

The stable outlook reflected expected ongoing shareholder support, along with expectations of continued risk management improvements and strong financial fundamentals as ICIEC expanded and diversified its operations while maintaining prudent underwriting discipline.

Moody’s Aa3 IFS rating measures an insurer’s ability to meet its senior policyholder obligations and pay claims on time, even during difficult economic conditions or severe market stress.