About this Report

 

https://saudire.net/AnnualReports/2024/index.html

This Report is available in the following formats: pdf, and end-to-end comprehensive online HTML

Saudi Re’s Annual Report for 2024 follows the principles of Integrated Reporting, upholding its established practice of providing a comprehensive Financial Report, a detailed Sustainability Report, and a Directors’ Report. The primary purpose of this report is to deliver a concise yet thorough overview of Saudi Re’s strategy, governance, performance, and future outlook, all framed within the context of the current operational environment. This format ensures transparency and clarity, offering stakeholders valuable insights into the Company’s approach to creating long-term value and managing risks in a dynamic market landscape.

1.1 Report boundary

Unless stated otherwise explicitly, this report covers the full scope of Saudi Re’s operations. The financial reporting boundary includes not only Saudi Re itself but also its affiliated companies, providing a comprehensive view of the entire group’s activities and performance, pertaining to the year under review.

1.2 Reporting period

This report covers the period from 1 January 2024 to 31 December 2024, and is consistent with Saudi Re’s established practices for Financial, Sustainability, and Directors’ reporting. There are no significant changes in the scope or boundaries of the report compared to prior editions.

The Directors’ Report, Sustainability Report, and Financial Report all pertain to the fiscal year ending 31 December 2024. Saudi Re’s Annual Report for 2024 is available in both English and Arabic. In the event of any discrepancies between the two versions, the Arabic version shall prevail.

1.3 Compliance

The report has been meticulously prepared in full compliance with all applicable rules, regulations, and standards set forth by the Insurance Authority (IA), the Capital Market Authority (CMA), the Ministry of Commerce (MOC), and other relevant regulatory bodies. This ensures that the report meets all legal and regulatory requirements, providing a transparent and accurate account of the Company’s operations.

1.4 Financial statements

The financial statements for the fiscal year ending 31 December 2024 have been prepared in full accordance with the International Financial Reporting Standards (IFRS) as endorsed within the Kingdom of Saudi Arabia. Furthermore, these statements also adhere to the additional standards, regulations, and directives set forth by the Saudi Organization for Certified Public Accountants (SOCPA), ensuring full compliance with both local and international accounting requirements.

1.5 Queries

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