“Saudi Re” launches its new branch in the GIFT City in India to strengthen its presence in the Asian market Saudi Reinsurance Company “Sudi Re” launches its new branch in Gujarat International Finance Tec-City (GIFT City) in the Republic of India. This initiative aligns with the Company’s expansion strategy and supports geographic risk diversification, reinforcing portfolio balance, sustainability and resilience of its technical performance. On this occasion, the Company held a launch event in Mumbai, India, under the patronage of His Excellency Mr. Sulaiman Al-Otaibi, Consul General of the Kingdom of Saudi Arabia, hosting its clients and partners from the Indian market. This move aligns with the recently introduced regulations in the Indian insurance market, which give priority to domestic companies and international branches operating within the country.  The Asian market accounts for 22% of the Saudi Re’s business portfolio.  GIFT City branch is the Company’s second branch in Asia, alongside its branch in Malaysia, which was established in 2014.  The Indian market ranks among the world’s top ten insurance markets, with total premiums exceeding USD 130 billion. It is also considered one of the fastest-growing emerging markets.  While continuing to grow in its home market in the Kingdom, leveraging its strong competitive position, Saudi Re aims to strengthen its presence in the regional and global markets, including India, which is among the Company’s largest international markets. Ahmed Al-Jabr, Chief Executive Officer of Saudi Re, commented: “We are delighted to strengthen our presence in the Asian markets with the opening of a branch in India, where the Company has been operating for over ten years.” He added, “While this initiative makes us closer to our clients India, it will further support the growth of our global business, enhance portfolio balance, and improve operational efficiency.” Saudi Re previously announced obtaining all the necessary official approvals from the Saudi Arabian Insurance Authority and the relevant Indian authorities. This strategic step is also in line with the objectives of the National Insurance Strategy, which aims to enable Saudi reinsurance companies to expand in global markets. Saudi Reinsurance Company “Saudi Re”, a PIF portfolio company, listed on the Saudi Exchange and one of the largest reinsurance companies in the region, with a capital of SAR 1.7 billion. The Company operates under the supervision of the Saudi Arabian Insurance Authority and has a presence in more than 40 markets across the Middle East, Asia, and Africa through its headquarters in Riyadh and its branches in Malaysia and India. It holds an “A2” credit rating with a stable outlook from Moody’s and an “A-” rating with a positive outlook from Standard & Poor’s.

Saudi Reinsurance Company “Saudi Re” announced that the Extraordinary General Assembly, in its meeting held on October 9, approved increasing the Company’s capital from SAR 1.158 billion to SAR 1.698 billion (USD 452.8 million) by capitalizing SAR 539.8 million from retained earnings. As a result, the Saudi Re’s total number of shares will rise from 115.83 million to 169.81 million upon completion of the capital increase. With this capital increase, Saudi Re becomes the top-capitalized listed company in the Saudi insurance sector andin the reinsurance sector in the Middle East. The Extraordinary General Assembly approved a 46.6% capital increase through the distribution of bonus shares to shareholders. The increase will be implemented by issuing 51.48 million shares, at a ratio of 4 shares for every 9 existing shares, representing 44.44% of the total capital increase. An additional 2.5 million shares, equivalent to 2.16% of the increase, will be allocated to the long-term employeeincentive program. Ahmed Al-Jabr, CEO of Saudi Re, said: “This milestone reinforces our financial position and credit rating, while boosting clients’ confidence in the Company’s financial strength. It further aligns with our growth strategy as the capital will be invested to advance business activities, enhance competitiveness, and sustain profitability.” He noted thatthe bonus share distribution underscores the Company’s ability to generate value and sustainable returns to shareholders. This marks the second capital increase by Saudi Re during the current year, following a 30% increase earlier this in January along with the Public Investment Fund’s (PIF) entry as a strategic partner. These developments coincide with the Company’s having strong performance, with business volume having doubled over the past three years and written premiums exceeding SAR 2.3 billion by theend of 2024. The announcement comes on the heels of a credit rating upgrade by Moody’s, which raised Saudi Re’s rating to “A2” with a stable outlook. The improved rating highlights the Company’s strengthened business and financial profile, particularly following the Public Investment Fund’s (PIF) acquisition of a significant minority stake in Saudi Re. This development, along with new regulatory mandates for local reinsurance cessions, has positively impacted the Company’s performance. Saudi Re, a portfolio company of the Public Investment Fund, is listed on the Saudi Exchange and operates under the supervision of the Insurance Authority. Saudi Re serves over 40 markets across the Middle East, Asia, and Africa. It holds a credit rating of “A2” from Moody’s and “A-” from S&P Global Ratings, both with stable outlooks. For more Details: Announcement Details Saudi Reinsurance Company (Saudi Re) announces the results of the Extraordinar…      

Saudi Reinsurance Company “Saudi Re” announced its financial results for the second quarter of 2025, reporting a net profit after Zakat of SAR 52.6 million, compared to SAR 43.5 million in the same period last year- an increase representing 21%.  This growth was supported by revenue growth and solid investment portfolio performance.   Accordingly, Saudi Re’s revenues for the first half of the year rose by 53%, reaching SAR 738 million, 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 88 million, marking a 17% increase year-on-year. Additionally, gross written premiums grew by 45%, rising to SAR 2.1 billion from SAR 1.4 billion in the corresponding period last year.     Ahmad Al-Jabr, CEO of Saudi Re, commented on the results: “Our first-half results build on the strong and steady growth we have delivered over the years, driven by our consistent focus on technical performance, operational efficiency, and investment return enhancement.” He added: “We proceed with confidence to achieve our objectives under our Strategy Towards 2028, leveraging our solid financial foundation and strategic partnerships to better serve our clients locally and globally.”   As part of its ongoing efforts to solidify its market position, Saudi Re recently announced signing a reinsurance contract with Tawuniya Insurance Company – as the leader of the insurance pool for the “Inherent Defects Insurance” – to provide reinsurance coverage on the Inherent Defects Insurance Pool.   Furthermore, in a strategic move aimed at supporting future growth and enhancing financial strength, the company intends to increase its capital by 46.6% to reach SAR 1.7 billion, by issuing bonus shares through the capitalization of SAR 539 million from retained earnings.   In a milestone that reflects Saudi Re’s robust financial position and improved competitiveness, the Company recently received a credit rating upgrade from Moody’s to A2 with a stable outlook. The upgrade highlights improved business and financial profile, following the Public Investment Fund’s acquisition of a significant minority stake in Saudi Re and the implementation of enhanced domestic reinsurance regulations.     Saudi Reinsurance Company “Saudi Re”, a portfolio company of the Public Investment Fund, is listed in the Saudi Market Exchange and operates under the supervision of the Insurance Authority. Its business spans more than 40 markets across the Middle East, Asia, and Africa, and it holds an A2 rating from Moody’s and an A- rating from S&P, both with stable outlook.   For more Details:Q2-2025 Financial Results Announcement – English