01

%

Annual Report 2024 عربي

My Report

At the moment, there are no entries available for display

0

CORPORATE INFORMATION

Saudi Reinsurance Company (Saudi Re) was established as a Saudi public shareholding company pursuant to Royal Decree No. 83 dated 25/10/1428 H corresponding to 6/11/2007 and obtained Commercial Registration No. 1010250125 dated 12/5/1429 H.

It is a company licensed under the number TMN/17/20087 and under the control and supervision of the Insurance Authority, and thus it has been established and publicized, as it is the first Saudi Reinsurance Company, with a capital of eight hundred and ninety-one million Saudi riyals (891,000,000) divided into 89.1 million shares.

TASI 8200
RIC 8200.SE
ISIN SA1210540419

Soaring with vision,
grounded in strength

From a foundation of trust and stability built on home soil, Saudi Re has achieved remarkable growth. As we embark on our Strategy Towards 2028, we are confident in our ability to navigate the complexities of a dynamic global reinsurance landscape with agility and adaptability. With our commitment to innovation and growth, guided by our core values and driven by renewed ambition, we aspire to reach new heights in a sustainable and prosperous future.

Chairman's Statement

In continuation of the Company's sustainable growth journey, “Saudi Re” achieved a record breaking performance in 2024, with profits reaching X 475 million and an ROE of 41%, alongside EPS of X 5.33, paving the way for the realization of our ambitious strategic goals.

Chief Executive Officer's Statement

Our strategic partnership with the Public Investment Fund (PIF) will strengthen the Company’s leadership position locally, bolster our regional and international presence, enhance our financial strength, and improve our credit rating, aligning with the objectives of Saudi Vision 2030.

Value Drivers: 2024 At A Glance

NET PROFIT

X million

INTERNATIONAL BUSINESS (GWP)

%

SHAREHOLDERS’ EQUITY

X million

UNDERWRITING RESULTS

X million

TOTAL ASSETS

X million

COUNTRIES IN OPERATION

+ Countries

Sustainability
Performance

Saudization rate (%) – 2024

0

2020

2021

2022

2023

71 75 78 80

Percentage of Senior Management that are Saudi Nationals – 2024

GRI
202-2

0

2020

2021

2022

2023

88 90 91 83

Number of hours of training given per employee

64 hours

Sponsorships granted

6

Support extended to employees to pursue professional qualifications. 4 Staff (PMP, ACII, Master’s Degree)

Value invested in training and education

2024

X 800,000

2023

X 700,000