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This Report is available in the following formats: pdf, and end-to-end comprehensive online HTML
Saudi Re’s Annual Report for 2023 adheres to the principles of Integrated Reporting, maintaining its established practice of presenting a Financial Report, a Sustainability Report, and a Directors’ Report. The primary aim of this report is to provide a concise overview of Saudi Re's strategy, governance, performance, and outlook in the context of the operational environment.
Unless explicitly stated otherwise, this report encompasses the operations of Saudi Re. The financial reporting boundary comprises Saudi Re and its affiliated companies.
This report covers the period commencing 1 January 2023, and concluding 31 December 2023. It is in alignment with Saudi Re’s previous practices for financial and sustainability reporting, in addition to the Directors’ Report. Adoption of IFRS 17 (Insurance Contracts) and IFRS 9 (Financial Instruments), as endorsed in Saudi Arabia, starting 1 January 2023, with retrospective application, has materially changed the presentation of financial results for periods starting Q1 2023 onwards with the comparative periods restated under the new standards. The Directors’ Report, Sustainability Report, and Financial Report presented here all pertain to the fiscal year concluding on 31 December 2023.
Saudi Re’s Annual Report for 2023 is presented in both English and Arabic; in the event of any disparities between the two versions, the Arabic version will take precedence.
The Report has been prepared in compliance with all applicable rules, regulations, and standards of the Insurance Authority (IA), the Capital Market Authority (CMA), and the Ministry of Commerce (MOC), and other regulatory bodies.
The financial statements for the fiscal year ending 31 December 2023, conform to the International Financial Reporting Standards (IFRS) adopted within the Kingdom of Saudi Arabia (collectively known as IFRS endorsed in KSA). Additionally, these statements adhere to other standards and directives issued by the Saudi Organization for Certified Public Accountants (SOCPA).
Investor Relations Department
Address: 4130 Northern Ring Rd, Al Wadi,
Riyadh 13313, Saudi Arabia
Email: Invest@saudi-re.com
Phone: +966 11 510 2000 Ext: 181
Website: www.saudire.net
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