Saudi Reinsurance Company “Saudi Re” invites its shareholders to attend the General Assembly Meeting (First Meeting) by means of modern technology
The Board of Directors of the Saudi Reinsurance Company “Saudi Re” is pleased to invite the honorable shareholders to attend the General Assembly meeting which will be held virtually through the modern technology means via (www.tadawulaty.com.sa) scheduled 19:00 on Wednesday 10/10/1443H corresponding to 11/05/2022, City and Location of the General Assembly’s Meeting: Kingdom of Saudi […]
Saudi Re announces board Recommendation to increase capital by offering rights issue
Saudi Reinsurance Company (Saudi Re), listed on the Saudi Exchange (Tadawul), announced on April 6, 2022 that the board of directors recommended increasing the company’s capital by 50% through a rights issue. The SR 445.5 million rights issue will increase the capital from SR 891 million to SR 1.336 billion. Accordingly, the number of shares […]
Saudi Reinsurance Company “Saudi Re” invites its shareholders to attend the General Assembly Meeting (First Meeting) by means of modern technology
The Board of Directors of the Saudi Reinsurance Company “Saudi Re” is pleased to invite the honorable shareholders to attend the General Assembly meeting which will be held virtually through the modern technology means via (www.tadawulaty.com.sa) link , scheduled 18:30 on Thursday 23/07/1443H corresponding to 24/02/2022, in line with the preventive and precautionary efforts and […]
Saudi Re announces the receipt of the Shariyah Review Report from its Shariyah advisor
Saudi Re announces that it has received the annual Shariyah Audit Report for the year 2020 from its Shariyah Advisor on 03/08/2021. The report, reference SRE-683-03-01-03-21, contains the Shariyah approval from the Shariyah Advisor, the Shariyah Review Bureau (SRB), in line with the prior years’ reviews, on the following functions: 1. Separation of Accounts (Shareholder […]
The Saudi Reinsurance Company Announces the Results of the Extraordinary General Assembly Meeting including Capital Increase, (Second Meeting)
Saudi Reinsurance Company (Saudi Re) announces the results of the Extraordinary General Assembly meeting including Capital Increase (the second meeting), which was held at 19:30 on 04/12/1442 H – 14/07/2021 an hour after the specified time of the first meeting due to non-completion of the quorum of the first meeting. City and Location of the […]
Saudi Re Acquires RMS Models
Saudi Re and RMS, the world’s leading catastrophe risk solutions company, announce a new agreement with Saudi Re adopting RMS models and services for a more comprehensive view across the Asian market. The agreement will enable Saudi Re to enhance risk analysis across multiple geographies including India, China, and the Philippines. Saudi Re continues to […]
Saudi Re named exclusive reinsurer for Inherent Defects Coinsurance Program
Saudi Reinsurance Company (Saudi Re), announced the signing on an exclusive reinsurance contract with Malath Insurance Company, on behalf of the Saudi insurance industry, to provide reinsurance coverage on the Inherent Defects Coinsurance Program. With this arrangement, the sole Saudi reinsurer will act as the exclusive reinsurer for the Saudi Arabian Inherent Defects Coinsurance Program […]
Saudi Re Appoints new Board of Directors
Saudi Re announce the approval on the election of members of the Board of Directors for a period of three years for the period from 11/05/2020 to 10/05/2023, and their names are: Mr.Hisham Abdulmalik Al-Shaikh Mr. Fahad Abdulrahman Al-Hesni Dr. Peter F. Hugger Mr. Ahmed Sabbagh Mr. Marc Maupoux Mr. Meshari Al Hussain Mr.Jean-Luc Gourgeon […]
Saudi Re receives Sharia certification from Shariyah Review Bureau
Saudi Re announces that it has received the annual Shariyah Audit Report for 2019 from its Shariyah Advisor i.e. Shariyah Review Bureau (SRB) on 16/04/2020, which confirmed that Saudi Re has complied with their Shariyah criteria standards.
Saudi Re Announces Maintaining an AA+ Insurance Financial Strength Rating (IFSR) By SIMAH’s Credit Rating Agency (Tassnief)
Saudi Re is pleased to announce that it has maintained an AA+ Insurance Financial Strength Rating (IFSR) by SIMAH’s Credit Rating Agency, Tassnief, with a stable outlook
According to the report issued by (Tassnief), on 5th Nov. 2019, the rating of Saudi Re reflects its strong financial profile supported by its strong capitalization, with solvency levels of the company well above the requirement. It also incorporates the strength of the business profile having a well-established franchise in the key targeted markets that the company operates in, as well as the improved level of diversification for the international business, and a well-diversified GPW mix among the major lines of business. Furthermore, the report noted the strong governance framework, experienced management team, and sound financial profile and investment strategy. The rating also reflects the improvement in profitability and scale of the company that has been built over the years.