Saudi Reinsurance Company “Saudi Re” announced its financial results for the second quarter of 2026, reporting a net profit after Zakat of SAR 115 million, compared to SAR 53 million for the same quarter last year, representing an increase of 118%. This growth was supported by the continued growth of the Company’s business, in line with its strategy and business plans.
Accordingly, Saudi Re’s revenues for the first half of the year increased by 71%, reaching SAR 1.3 Billion, 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 162 million, marking an increase of 84% compared to the corresponding period last year. Additionally, Gross Written Premiums (GWP) increased by 58%, reaching SAR 3.3 billion, compared to SAR 2.1 billion in the same period of the previous year.
Commenting on the results, Ahmed Al-Jabr, CEO of “Saudi Re”, said:
“These results demonstrate our ability to consistently deliver profitable and sustainable growth, supported by our continued investment in strengthening our institutional and technical capabilities, which has enabled the Company to achieve exceptional growth in both revenue and profitability compared to the same period last year.” Al-Jabr added: “Our focus remains on executing strategic initiatives that strengthen our capabilities, enhance our competitive position, and support the development of a diversified, high-quality portfolio, underpinned by disciplined underwriting and prudent risk management.”
During the first half of the year, “Saudi Re” achieved several strategic milestones, including strengthening its presence in the Lloyd’s market through its strategic investment in AdA Risk Holding Co. Limited, opening its second branch in Asia in the Republic of India, and reaffirming its A2 Insurance Financial Strength Rating by Moody’s. These achievements reinforce the Company’s financial strength and support its long-term growth ambitions.
Saudi Re is a Public Investment Fund portfolio company listed on the Saudi Exchange with a paid-up capital of SAR 1.7 billion. The Company is among the leading reinsurance providers in the MENA region. Established in 2008 as a composite reinsurer, Saudi Re offers a wide range of treaty and facultative reinsurance solutions, The Company holds Moody’s A2 rating and S&P A- rating with a Positive Outlook.
Saudi Re operates in more than 40 markets across the Middle East, Asia, and Africa through its headquarters in Riyadh and its branches in Malaysia and India. The Company is regulated by the Saudi Arabian Insurance Authority.
