Saudi Re announces its rating upgrade by Moody’s to A2 IFSR with a stable outlook
Saudi Reinsurance Company “Saudi Re” announces receiving an upgrade on its credit rating from Moodey’s from A3 to A2 with a stable outlook. The rating upgrade of Saudi Re to A2 reflects strengthened business and financial profiles following Saudi Arabia’s Public Investment Fund’s acquisition of a significant minority stake in Saudi Re and the […]
Saudi Re and Damanat Sign Memorandum of Understanding to Strengthen Reinsurance Collaboration
Saudi Reinsurance Company (Saudi Re) and Saudi Housing Guarantee Services Company (Damanat) have signed a Memorandum of Understanding (MoU) that establishes a collaboration framework between the two parties with the objective of developing insurance and reinsurance solutions for the mortgage financing sector. The MoU paves the way to design innovative risk management solutions that support […]
“Saudi Re” Announces that Moody’s has affirmed its rating at A3 Insurance Financial Strength Rating (IFSR) with Positive outlook
Saudi Reinsurance Company “Saudi Re” Announces that Moody’s has affirmed its rating at A3 Insurance Financial Strength Rating (IFSR) with a positive outlook. The financial rating of Saudi Re reflects its: 1- Strong brand and market position in Saudi Arabia as the sole Saudi professional reinsurer as well as a growing presence in its target […]
Saudi Re posts net profit SAR 475 million and recommends increasing capital by granting bonus shares of 539 million
Saudi Reinsurance Company “Saudi Re” announced its financial results for 2024, reporting a net profit after zakat of SAR 475 million, reflecting a 282% increase compared to 2023. The Company’s gross written premiums (GWP) grew by 48%, reaching SAR 2.36 billion, driven by the growth across all lines both locally and internationally. Saudi Re’s underwriting […]
the Completion of PIF Transaction
Saudi Re Announces Signing a Reinsurance Contract for Surety Insurance Bond Coinsurance Program with Walaa Cooperative Insurance Company
Introduction Saudi Re Announces Signing a Reinsurance Contract for Surety Insurance Bonds Coinsurance Program with Walaa Cooperative Insurance Company Date of Announcement of the Award 2024-12-29 Corresponding to 1446-06-28 Contract Subject Matter Reinsurance contract on Surety Insurance Bonds Coinsurance Program. The Program is a financial guarantee solution that aims to ensure contractors meet their contractual […]