About this Report
Saudi Re's Directors’ Report 2021 has been prepared in accordance with integrated reporting principles. Continuing the tradition of issuing a Financial Report, a Sustainability Report, and a Directors’ Report. The Report's purpose is to communicate to the Company's stakeholders its strategy, governance, and performance in light of the operating environment.
1.1 Report Boundary
Unless otherwise specified, the Report covers Saudi Re's operations. Saudi Re and its associates are included under the financial reporting boundaries.
1.2 Reporting Period
The Report covers the period from 1 January 2021 to 31 December 2021. This is consistent with our previous financial and sustainability reporting, as well as the Directors’ Report. There are no restatement of previous reports' information and no significant changes to the scope and aspect boundaries of earlier reports. The most recent Directors’ Report, Sustainability Report, and Financial Report were all for the fiscal year ending 31 December 2020.
The Report is available in both English and Arabic, and in the event of a discrepancy between the two, the Arabic version will prevail.
This Report complies with all applicable rules, regulations, and standards of the Saudi Central Bank (SAMA), the Capital Market Authority (CMA), the Ministry of Commerce (MOC), and other regulatory agencies.
1.4 Financial statements
The Financial Statements for the fiscal year ended 31 December 2021 have been prepared in accordance with International Financial Reporting Standards (IFRS) that are endorsed in the Kingdom of Saudi Arabia, as well as other standards and pronouncements issued by the Saudi Organization for Certified Public Accountants (SOCPA) (collectively referred to as “IFRS endorsed in KSA”).
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