Saudi Reinsurance Company “Saudi Re” reported a net profit after Zakat of SAR 46.7 million in the first quarter of 2026, representing a 32% increase compared to SAR 35.4 million in the corresponding period of the previous year. The first quarter results were driven by resilient underwriting and positive investment returns.

Insurance revenue in Q1 2026 recorded a significant 73% year-on-year increase, reaching SAR 560 million. Continued expansion across various lines of business in Saudi Arabia and international markets supported this growth. Gross Written Premiums in Q1 2026 jumped by 37% to SAR 2.38 billion, up from SAR 1.74 billion in the same period last year.

Commenting on the results, Saudi Re CEO Ahmed Al-Jabr, stated: “The strong results achieved in the first quarter reflect Saudi Re’s disciplined underwriting approach and prudent investment strategy. Saudi Re has maintained its balanced business model, focusing on improving net income while expanding the scope of its operations.”

He added: “We are progressing toward our strategic goals, backed by the strength of our financial position and our increasingly competitive market standing, ensuring our resilience and sustainability of our performance.”

Saudi Reinsurance Company “Saudi Re”, a Public Investment Fund portfolio company, is listed on the Saudi Exchange. The company has the largest paid-up capital in MENA, standing at SAR 1.7 billion (US$453 million). Saudi Re is rated ‘A-’ by S&P with a positive outlook, and A2 by Moody’s, reflecting its strong financial standing. The company operates in more than 40 markets across the Middle East, Asia, and Africa. Regulated by the Saudi Arabian Insurance Authority, Saudi Re conducts its operations from its headquarters in Riyadh and branches in Malaysia and India.