- CEO
- Ahmed Al-Jabr
- Full Time Employees
- 25
- Sector
- Finance
- Industry
- Multi-line insurance
- Address
- Northern Ring Road Riyadh Riyadh Province Saudi Arabia 13313-6684
- IPO Date
- Mar 8, 2008
- Business
- Saudi Reinsurance Company (Saudi Re) is a leading reinsurance provider in the Middle East and North Africa region, offering facultative and treaty reinsurance solutions on proportional and non-proportional bases across property and casualty, life and health, motor, protection, and inherent defects insurance segments; its core products include engineering, fire, marine, general accident, specialty lines such as aviation, energy, agriculture, and political risk coverage, whole account reinsurance, term and credit life, and health insurance. Headquartered in Riyadh, Saudi Arabia, and founded in 2008, the company operates in more than 40 markets spanning the Middle East, Asia, Africa, and the Lloyd's market in the United Kingdom, with international business comprising 53% of its portfolio. Saudi Re maintains a strong financial position with paid-up capital of SAR 1.698 billion, financial strength ratings of A- (positive outlook) from S&P Global and A2 (stable outlook) from Moody's, and serves a diversified client base of insurers seeking risk management solutions. In January 2025, the Public Investment Fund (PIF) acquired a 23.08% stake through a capital increase from SAR 891 million to SAR 1.158 billion, establishing PIF as a strategic partner and bolstering Saudi Re's role as the national reinsurer. In October 2025, Saudi Re further increased its capital by 46.6% to SAR 1.698 billion via bonus shares and retained earnings capitalization, becoming the highest-capitalized listed reinsurer in the Middle East; the company also signed a memorandum of understanding with Saudi Housing Guarantee Services Company (Damanat) in February 2025 for reinsurance collaboration and secured a reinsurance contract with Tawuniya Insurance Company for the Inherent Defects Insurance Pool. These developments support robust growth, with written premiums exceeding SAR 2.3 billion by end-2024, business volume doubling over three years, and net profits rising 20.9% to SAR 52.6 million in Q2 2025.