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Radial Growth

Saudi Re maintained a robust growth trajectory across most parameters of its business. Over the years, we have continued to grow outwards from “the center” - our home in The Kingdom of Saudi Arabia - building an international presence in 40 plus countries across MENA, Asia, Africa and Lloyd's Market in the UK. We have sharpened our focus on expansion into international markets, guided by our blueprint for the future, Strategy Towards 2026.

2022 AT A GLANCE

SR billion

Gross Written Premium (GWP)

2021: SR 1.1 billion

+

Countries in operation

%

International business

A- S&P & A3 Moody’s

Credit ratings

SR million

Underwriting profit

2021: SR 71.6 million

SR million

Net profit

2021: SR 38.3 million

SR billion

Total assets

2021: SR 3.1 billion

SR billion

Total equity

2021: SR 963 million

SR

EPS

2021: SR 0.43

CHIEF EXECUTIVE OFFICER’S REVIEW

Saudi Re has recorded an exceptional 26% growth in Gross Written Premium (GWP) to reach SR 1,403 billion, while maintaining strong foothold in more than 40 markets across the Middle East, Asia, Africa, and UK

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STRATEGIC DIRECTION

Scale

We prioritize the pursuit of scale, which involves expanding our economic scale, earnings, and capital base, as well as enhancing our resilience to major losses.

Diversification

Our strategy includes diversification, both geographically and in terms of risk type, to ensure a well-balanced portfolio.

Technical and Operational Capabilities

We are dedicated to continuously improving our technical and operational capabilities, which include risk management, technological advancements, and human capital development.

Relationships

We place a high value on building strong relationships, particularly with cedants, brokers, partners, and regulators. Our corporate brand is also an essential factor in fostering positive relationships.

Financial Soundness

Maintaining financial soundness is critical to the strength and stability of our business. We strive to maintain technical profitability, adequate capitalization, and favorable returns on investment.