OVERVIEW

2.1 Who we are

Saudi Re is the only specialized reinsurance company in Saudi Arabia which operates in more than 40+ countries across the Middle East, Asia, Africa and Lloyd's Market in the UK through it’s HO in Riyadh and through it’s Labuan KL branch. The Company operates under the supervision of the Saudi Central Bank (SAMA) and listed on the Saudi Exchange (Tadawul). Based in a G20 economy, with one of the world’s fastest-growing insurance markets, giving Saudi Re significant opportunities for growth and development.

Saudi Re’s financial strength and stability have been affirmed by receiving a rating of “A-” for long-term issuer credit and insurer financial strength and a “gcAAA’” regional scale rating with a stable outlook by Standard & Poor’s Global Ratings (S&P); and a rating of A3 Insurance Financial Strength Rating (IFSR) international scale and an A1.sa national scale IFSR with a stable outlook from Moody’s. The financial ratings are attributable to Saudi Re’s strong brand and market position (both locally and internationally), low exposure to large risks, strong asset quality, and high capital adequacy.

 

 

 

 

 

 

 

 

 

 

 

In formulating its strategies and policies, Saudi Re follows a sustainability framework based on international practices, incorporating ESG criteria into reinsurance practices, and operates as a Sharia-compliant company. The Company also incorporates sustainability into its supply chain practices, ensuring that its procurement processes are prudently formulated and executed.

2.2 What we do

Saudi Re specializes in facultative and treaty reinsurance solutions in various classes, including property, engineering, liability, marine, motor, life, and health. The company aims to support Saudi Arabia’s Vision 2030 by expanding the non-oil sector and non-oil exports, and by maximizing the local content of reinsurance and retaining premiums within the Kingdom. Strong client relationships, established through direct and broker channels, are managed by market-based underwriting teams and supported by a robust technological and analytical infrastructure. The Company's underwriting expertise, combined with its strong analytical and actuarial skills, enables sound risk assessments and judicious pricing.