Sustainability

Being among the region’s leading reinsurance firms, setting the standard in sustainability is part of our mandate. Our sustainability framework has been developed with a focus on integrating ESG factors into our strategies, plans and processes.

Saudi Re Approach & Stakeholders

Through our experience in sustainability, we have built our framework to capture a commitment and a drive toward transparency, accountability, environmental and social consciousness. The development of such a framework was done in consideration of the interests of our stakeholders, as well as national and regional visions and objectives, such as the Kingdom of Saudi Arabia Vision for 2030, National Sustainability Standards, the GRI standards and the United Nations Sustainable Development Goals (UNSDGs).

Materiality

The material topics are the issues that have the greatest impact on our business and our stakeholders. We have prioritized our key material topics by looking towards the enhancement of the factors that impact Saudi Re and its stakeholders, with priority being given to ESG considerations. The material topics are ranked in order of importance in the diagram.

Saudi Re Approach & Stakeholders

The foundations to our strategy for sustainability begins with the value we place on all our stakeholders. Those stakeholders are affected by Saudi Re’s activities, or can have an impact on Saudi Re by their actions, opinions or attitudes. They are: clients, brokers, shareholders, analysts, investors, employees, regulatory bodies, suppliers and business partners.

National Contribution

With our commitment to national development, Saudi Re is dedicated whole heartedly to the actualization of the Saudi Vision 2030. Economic growth as a centerpiece for our plan means that opportunities are created for Saudi citizens, by providing training and development; women are empowered to be appointed to senior positions. Further, we prioritized the Saudization of Saudi Re by committing to recruit Saudi Citizens and giving them the skills required to be professionals in the insurance and reinsurance industry.

ESG Activities

Saudi Re also demonstrates its commitment to ESG by innovative initiatives to uplift the social and economic conditions of local communities where we operate. Our focus areas in such activities include promoting economic growth, creating job opportunities, enhancing education, providing healthcare services, youth development and philanthropic activities. We conduct such programs with a sensitivity to the traditions and the culture of the communities, and craft them so as to improve the quality of life of the people.

ESG Initiatives

New Recycling Campaign 2023 

July 19, 2023
As part of Saudi Re ESG’s commitment to managing our environmental footprint through effective waste management, we launched an internal communication campaign about recycling for all our employees. Additionally, we have installed recycling bins throughout our premises to facilitate the proper disposal of paper and plastic waste.

New: Medical check up 2022 

July 19, 2023
Continuing our steadfast commitment to nurturing a culture of health and well-being within its workforce, Saudi Re has taken another significant initiative by organizing its second wellness event, dedicated to providing comprehensive medical check-ups to all employees

New: 2022 National Day

July 19, 2023
§In honor of 91st Saudi National Day , Saudi Re organized an event to express our gratitude to our esteemed employees and commemorate this significant occasion. The festivities during the 2022 National Day celebration at Saudi Re vividly demonstrated our unwavering dedication to fostering a dynamic and inclusive workplace, where our valued employees remain central to our collective success.

6th Saudi insurance symposium 2022 

July 19, 2023
As part of Saudi Re ongoing commitment to fostering strong relationships with clients and partners and actively contributing to the advancement of the insurance market’s knowledge, Saudi Re proudly sponsored the 6th Saudi Insurance Symposium, held under the theme “Growth & Evolution.”

Reinsurance Simulation Training 2022

July 19, 2023
In line with Saudi Re’s commitment to fostering meaningful connections with clients and partners while advancing knowledge in the insurance market, the company organized a comprehensive course. This course specifically focuses on a wide range of Reinsurance topics, covering areas such as planning and structuring reinsurance, reinsurance pricing, and making informed reinsurance decisions.

First Aid Training 2022 

July 19, 2023
At Saudi Re, we prioritize the safety and wellbeing of our people, aligning with our ESG and sustainability goals. In line with this commitment, we have successfully concluded a comprehensive series of First Aid training courses in collaboration with Tawuniya. This initiative was undertaken with the primary objective of enhancing preparedness and equipping our employees with the necessary skills to effectively handle emergency situations. By investing in such training, we empower our workforce to respond swiftly and confidently in times of need, further ensuring a secure and supportive environment for all.

Tamkeen Employment Form 2022

July 19, 2023
As part of Saudi Re commitment to promoting employment opportunities and caring for the community, Saudi Re actively participated in the Tamkeen employment forum. This forum’s primary objective is to create job opportunities specifically tailored for individuals with special needs. By engaging in this initiative, Saudi Re demonstrates its dedication to inclusivity and social responsibility.

National Day 2021

July 19, 2023
In commemoration of Saudi Re’s National Day celebration in 2021, a memorable celebration for our valued employees was arranged to celebrate this special occasion. The 2021 National Day celebration at Saudi Re exemplified our commitment to creating a vibrant and inclusive work environment, where our employees are at the heart of our success.

Cloth Donation 2021

July 19, 2023
As a testament to Saudi Re’s commitment to (ESG) initiatives, we  collaborated with the Kisa initiative to organize a meaningful activity centered around the responsible disposal and donation of used clothes, shoes, and bags. This initiative allowed us to contribute to the greater good by gathering these materials and directing them towards registered charity organizations for their benefit. By engaging in this thoughtful act of recycling and donation, Saudi Re demonstrates its dedication to sustainable practices and making a positive impact within our community. 

Recycling Electronics 2021

July 19, 2023
At Saudi Re, we are fully committed to managing our environmental footprint as part of our ESG objectives, particularly in the realm of waste management. To further this mission, we have undertaken a meaningful initiative to address the responsible disposal of our old electronic devices. Recognizing the importance of recycling and reusing resources, we have partnered with reputable organizations to ensure that these devices are repurposed for both charitable and environmental purposes. By embracing this initiative, Saudi Re actively contributes to reducing e-waste and promotes a sustainable future for generations to come. We are proud to lead by example and prioritize the well-being of our planet in line with our ESG commitments.

Medical check up 2021

July 19, 2023
As part of  Saudi Re aim to promote a culture of health and well-being for its employees, Saudi has arranged for the first time a wellness event to introduce a health program and perform a medical check up for the employee.  As part of Saudi Re commitment to promoting a culture of health and well-being among its employees, Saudi Re has taken a significant step by organizing its first-ever wellness event. The primary objectives of this event are to introduce a comprehensive health program and offer medical check-ups to all employees.

Risk Appetite Webinar 2020

July 19, 2023
As part of Saudi Re  efforts to engage with clients and partners and contribute to the knowledge development of the insurance market, Saudi Re took the initiative to organize a highly informative webinar focused on the crucial topic of “Risk Appetite.”. The webinar discussed aligning risk appetite to the strategic objectives of an insurance company and embedding it into business decisions. The webinar addressed economic view of how risk can assist in transforming risk appetite from a protection mechanism to a value adding activity.