| Saudi Reinsurance Company “Saudi Re” announced its financial results for the second quarter of 2025, reporting a net profit after Zakat of SAR 52.6 million, compared to SAR 43.5 million in the same period last year- an increase representing 21%. This growth was supported by revenue growth and solid investment portfolio performance. Accordingly, Saudi Re’s revenues for the first half of the year rose by 53%, reaching SAR 738 million, compared to the same period last year. This growth was driven by the company’s continued expansion across multiple business lines both locally and internationally. Net profit for the first half reached SAR 88 million, marking a 17% increase year-on-year. Additionally, gross written premiums grew by 45%, rising to SAR 2.1 billion from SAR 1.4 billion in the corresponding period last year. Ahmad Al-Jabr, CEO of Saudi Re, commented on the results: “Our first-half results build on the strong and steady growth we have delivered over the years, driven by our consistent focus on technical performance, operational efficiency, and investment return enhancement.” He added: “We proceed with confidence to achieve our objectives under our Strategy Towards 2028, leveraging our solid financial foundation and strategic partnerships to better serve our clients locally and globally.” As part of its ongoing efforts to solidify its market position, Saudi Re recently announced signing a reinsurance contract with Tawuniya Insurance Company – as the leader of the insurance pool for the “Inherent Defects Insurance” – to provide reinsurance coverage on the Inherent Defects Insurance Pool. Furthermore, in a strategic move aimed at supporting future growth and enhancing financial strength, the company intends to increase its capital by 46.6% to reach SAR 1.7 billion, by issuing bonus shares through the capitalization of SAR 539 million from retained earnings. In a milestone that reflects Saudi Re’s robust financial position and improved competitiveness, the Company recently received a credit rating upgrade from Moody’s to A2 with a stable outlook. The upgrade highlights improved business and financial profile, following the Public Investment Fund’s acquisition of a significant minority stake in Saudi Re and the implementation of enhanced domestic reinsurance regulations. Saudi Reinsurance Company “Saudi Re”, a portfolio company of the Public Investment Fund, is listed in the Saudi Market Exchange and operates under the supervision of the Insurance Authority. Its business spans more than 40 markets across the Middle East, Asia, and Africa, and it holds an A2 rating from Moody’s and an A- rating from S&P, both with stable outlook. For more Details: Q2-2025 Financial Results Announcement – English |
August 3, 2025
Saudi Reinsurance Company “Saudi Re” announced its financial results for the second quarter of 2025, reporting a net profit after Zakat of SAR 52.6 million,
