Category: Uncategorized

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 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 […]

إعلان النتائج المالية – تسعة أشهر – 2018م

نجحت الشركة في تحقيق صافي ربح قبل الزكاة بلغ 24.1 مليون ريال خلال التسعة أشهر من العام 2018م بارتفاع بلغ 16% مقارنة بالعام السابق ومما نتج عنه زيادة الربح الشامل لذات الفترة بنسبة 26%. وجاءت نتائج الفترة مدعومة بالأداء الإيجابي للربع الثالث حيث تجاوز صافي الربح قبل الزكاة 10 مليون ريال مقارنة بخسارة بحدود 270 […]

Saudi Re Receives AA+ Insurance Financial Strength Rating (IFSR) From SIMAH’s Credit Rating Agency (Tassnief) with stable outlook

Saudi Re is pleased to announce that it has been assigned an AA+ Insurance Financial Strength Rating (IFSR) by SIMAH’s Credit Rating Agency, Tassnief, with stable outlook.

According to the rating issued on on 26 Sep. 2018, the AA+ Rating of Saudi Re reflects its strong financial profile supported by its strong equity base and debt-free capital structure. 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 the entry into the Lloyd’s market and a well diversified GPW mix among the major lines of business. Furthermore, the report noted the sound governance framework, conservative investment policy, improved underwriting procedures and risk management techniques which resulted in an improvement in technical performance of the Saudi Re.

Saudi Re receives approvals from SAMA and Lloyd’s to proceed with Probitas Holdings (Bermuda) Deal

Saudi Re is pleased to announce receiving the required approvals from the Saudi Arabian Monetary Authority (SAMA) and also from Lloyd’s of London to proceed with the deal to purchase 49.9% of the ordinary shares of Probitas Holdings (Bermuda) Limited (PHBL).

Saudi Re completes the acquisition transaction of PHBL

Saudi Re is pleased to announce the completion of transaction and the consequent acquisition of 49.9% of the ordinary shares of PHBL.

Announcement on Tadawul

Saudi Re Receives AA+ Insurance Financial Strength Rating (IFSR) From SIMAH’s Credit Rating Agency (Tassnief) with …stable outlook

Saudi Re is pleased to announce that it has been assigned an AA+ Insurance Financial Strength Rating (IFSR) by SIMAH’s Credit Rating Agency, Tassnief, with stable outlook. According to the rating issued on on 26 Sep. 2018, the AA+ Rating of Saudi Re reflects its strong financial profile supported by its strong equity base and […]