Category: Uncategorized

Saudi Re’s net profit before Zakat increases 203% in first half of 2019

Saudi Reinsurance Company (Saudi Re), listed on the Saudi Exchange Market (TASI), recorded a net profit before Zakat of SAR 42.6 million in the six-month period ending Jun.30, 2019, an increase of 203 per cent from SAR 14.0 million in the same period last year. The Company achieved growth in operating results (the results of reinsurance operations) […]

Saudi Re Organize a Seminar for the Asian Market

Industry specialists presented their views about growth prospects in the Asian insurance markets in a seminar organized by Saudi Re last week in Kuala Lumpur, Malaysia. Qian Zhu, Vice President – Senior Credit Officer, Moody’s Investors Service, highlighted that premium growth in Asia Pacific’s property and casualty (P&C) sector remains robust and continues to exceed […]

«Saudi Re» to sponsor the second annual Sharm El-Sheikh Insurance and Reinsurance Rendezvous

Recognizing the significance of the Egyptian and North African insurance market, Saudi Re is participating for the second time as a main sponsor of the second Sharm El-Sheikh Insurance and Reinsurance Rendezvous which will be held in Sharm El-Sheikh from November 11 to 13, 2019.  Sharm Rendezvous is expected to be attended by nearly 1000 […]

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 […]

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 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 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 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 […]

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 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 […]