Reinsurance News
Saudi Re
Saudi Re’s revenue increases 48% in 2025, net profit stands at SAR 140m
27th February 2026
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 ... Read the full article
Saudi Re opens GIFT City branch following India’s regulatory reforms
19th January 2026
Saudi Re has obtained the approvals from Saudi Arabia’s Insurance Authority and the relevant Indian authorities to open a branch in India’s Gujarat International Finance Tec-City (GIFT City). Saudi Re, which has been active in the Indian market for more than a decade from its headquarters in Riyadh, made the move ... Read the full article
S&P revises Saudi Re’s outlook to positive
26th November 2025
S&P Global Ratings has revised Saudi Re’s outlook to positive from stable citing improved performance indicators, mainly the company’s strengthening competitive position and robust capital buffers. The rating agency also affirmed its 'A-' long-term issuer credit and insurer financial strength ratings and 'gcAAA' Gulf Cooperation Council regional scale rating on the ... Read the full article
Saudi Re approves issuance of new shares to increase capital by 46.6%
16th October 2025
Saudi Reinsurance Company’s (Saudi Re) Board of Directors has approved a capital increase through the issuance of 53.98 million new shares, raising its capital by 46.6% to SAR 1.7 billion to strengthen the reinsurer’s capital base and support growth. The approval follows the Extraordinary General Assembly Meeting held on Thursday 9th ... Read the full article
Saudi Re’s net profit increased 20.9% to SAR 52.6m in Q2’25
4th August 2025
Saudi Reinsurance Company (Saudi Re) has reported a net profit after zakat attributable to shareholders of SAR 52.6 million for the second quarter of 2025, representing a 20.9% increase compared to the same quarter a year earlier. The company attributed the increase in net profit to a 28% rise in reinsurance ... Read the full article
Saudi Re sees net profit of SAR 35.4m in Q1’25
9th May 2025
Saudi Re has reported a net profit after zakat attributable to shareholders of SAR 35.4 million for Q1 2025, up from SAR 31.8 million in the same period last year. The company attributed the increase in net profit primarily to a 56% rise in reinsurance revenue, a 28% growth in net ... Read the full article
Moody’s upgrades Saudi Re’s IFSR to A2 with stable outlook
24th April 2025
The insurance financial strength rating (IFSR) of Saudi Reinsurance Company's (Saudi Re) has been upgraded by Moody's Ratings to A2 from A3, while the firm's A1.sa national scale IFSR has also been affirmed. At the same time, the reinsurer's outlook has been changed to stable from positive. The Saudi Arabia domiciled ... Read the full article
Saudi Re reports 282% rise in net profit for 2024
17th March 2025
Saudi Re has reported net profit after zakat (a religious obligation for all Muslims who meet the necessary wealth criteria) of SAR 475 million for 2024, reflecting a 282% increase from 2023, driven by improved underwriting results. During the year, the reinsurer's underwriting results improved significantly, with net reinsurance results increasing ... Read the full article
Saudi Re and Damanat partner to improve mortgage financing with re/insurance solutions
18th February 2025
Saudi Re and Saudi Housing Guarantee Services Company (Damanat) have partnered to develop insurance and reinsurance solutions for the mortgage financing sector. They formalised their partnership through a Memorandum of Understanding (MoU). This strategic alliance aims to create innovative risk management solutions that will not only bolster the growth and stability of ... Read the full article
PIF acquires 23.08% stake in Saudi Re
13th January 2025
The Public Investment Fund (PIF), Saudi Arabia's sovereign wealth fund, has announced the acquisition of a 23.08% stake in Saudi Reinsurance Company (Saudi Re) through a capital increase and subscription to new shares. This deal was first announced in October 2023, when Saudi Re signed a non-binding memorandum of understanding ... Read the full article
Saudi Re appoints Isa Ali as Chief Operating Officer
9th January 2025
Saudi Re has announced the appointment of Isa Ali, who has been with the company since 2009, as its new Chief Operating Officer. In his new role, Ali will play a key part in driving the company’s digital and operational transformation, supporting its ambitious strategy to strengthen its competitive position and ... Read the full article
Saudi Re signs reinsurance contract for Surety Bonds Program with Walaa
31st December 2024
Saudi Re has announced the signing of a reinsurance contract with Walaa Cooperative Insurance Company for the Surety Insurance Bonds Coinsurance Program. This program provides financial guarantees to ensure contractors meet their obligations on construction projects developed by the Public Investment Fund’s (PIF) Development Companies. The contract spans 12 Gregorian months, starting ... Read the full article
Saudi Re opens subscription for capital increase
27th December 2024
Saudi Reinsurance Company (Saudi Re) has commenced its subscription period for a capital increase, running from December 26th to 30th. The offering comprises 26,730,000 new ordinary shares, which represent 30% of the company’s current capital, with a nominal value of SAR 10 per share (around USD 2.6). This move follows the ... Read the full article
Saudi Re reports 351% increase in profits for the first nine months of 2024
31st October 2024
Saudi Re has reported a net profit after zakat (a religious obligation for all Muslims who meet the necessary criteria of wealth) of SAR 475 million for the first nine months of 2024, representing an impressive 351% increase compared to the same period last year. Total written premiums also saw significant ... Read the full article
Ahmed Al-Jabr becomes Saudi Re CEO
2nd October 2024
Saudi Reinsurance Company has announced the appointment of Ahmed Al-Jabr as its new Chief Executive Officer, effective October 1, taking over the role from Fahad Al-Hesni. Al-Jabr has 25 years of diverse experience in the insurance and reinsurance sectors, having served in various executive roles in operations, strategy management, business development ... Read the full article
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