MENA-region reinsurer Saudi Re has announced its financial results for the full year 2025, reporting SAR 1.67 billion in revenue, a 48% increase compared to the same period of the previous year.
According to the firm, this growth was supported by expansion across multiple business lines, both domestically and internationally.
While revenue experienced an increase, net profit after zakat (a religious obligation for all Muslims who meet the necessary wealth criteria) fell to SAR 140 million.
This represents a 71% decrease compared to the SAR 475 million reported for the same period last year. The prior-year period included exceptional capital gains of SAR 365.9 million.
Excluding the non-recurring gains recorded in 2024, the company’s profit grew by 28%, supported by a balanced contribution from underwriting performance and investment income.
Furthermore, gross written premiums (GWP) for 2025 increased by 24% to SAR 2.9 billion, compared to SAR 2.36 billion for the corresponding period of the previous year.
Ahmed Al-Jabr, CEO of Saudi Re, commented: “We continue to deliver sustainable profitable growth, driven by strong underwriting performance, while achieving a record Gross Written Premiums, with the Company’s business volume doubling over the past three years.”
He added: “Our ambitious strategy focuses on reinforcing our leadership in the Middle East and supporting the Kingdom’s insurance sector by increasing the insurance capacity, enhancing premium retention, and contributing to the development of innovative insurance products, fully aligned with the National Insurance Strategy.”
Saudi Re also strengthened its capital by 90% in 2025 to reach SAR 1.69 billion, following the Public Investment Fund’s entry as a strategic partner, in addition to distributing bonus shares.
As a result, the company noted, this made Saudi Re “the highest capitalised company in the insurance sector on the Saudi Stock Exchange and in the reinsurance sector across the Middle East.”
The company’s strengthened balance sheet has also caught the attention of international rating agencies. Moody’s upgraded the company’s credit rating to “A2” with a stable outlook, and S&P affirmed its “A-” rating with revised outlook from stable to positive.
