Moody’s upgrades Beema rating to 'A3' with sable outlook

International credit rating agency Moody’s Thursday upgraded Damaan Islamic Insurance Company's (Beema) insurance financial strength rating (IFSR) to 'A3' from 'Baa1' with a "stable" outlook. The upgrade follows changes in the company’s governance and financial strategy and notably the implementation of stricter safeguards to limit the risks associated with its…