Standard & Poor’s Affirms Rating BBB+ (Stable) for Saudi Re

    Riyadh, Standard & Poor’s (S&P) has affirmed Saudi Re’s financial strength rating at BBB+ with a stable outlook. S&P expects that Saudi Re will gradually prove successful in establishing a good and diversified competitive position in Saudi Arabia, the GCC, and beyond, while generating sufficient revenues to cover costs, and is likely to continue to display tangible progress in the development of its competitive position...

Saudi Re’s strength factors, in the view of S&P, included the strong capitalization of Saudi Re making it one of the most strongly capitalized out of all Middle East and North Africa (MENA) regional reinsurers. According to S&P, Saudi Re possesses an absolute level of capitalization that ranks it as one of the leaders in terms of overall capacity among Middle Eastern regional reinsurers, and its board of directors has the vision to grow its business stature accordingly in the medium term.

Despite continued competition from regional and global reinsurers, S&P anticipates that Saudi Re will differentiate itself sufficiently from other reinsurers to win an increasing share of the steadily growing Saudi Arabian, GCC, and broader emerging markets' demand for reinsurance protection.

Fahad Al-Hesni, CEO of Saudi Re said “preserving the rating for four years in a row is indicative of Saudi Re’s sound business strategy and fosters our reputation for being a reliable business partner in the eyes of our valued clients”.

Saudi Re is the first licensed reinsurance company in Saudi Arabia established in 2008 with a paid capital of 1 billion Saudi Riyals (USD 267 million). In 2011, Saudi Re achieved growth of 49% in Gross Written Premium and currently serves clients in more than 20 countries in the Middle East, Africa and Asia.

S&P Affirms Saudi Rating at BBB+

Saudi Re appoints its Sharia Board

Saudi Re has appointed its Sharia Board effective May, 2011. The appointment of the Sharia Board comes to further supp



CEO of Saudi Re ranks among the top 50

"Mena Insurance Review" has listed Mr. Fahad Al-Hesni, CEO of Saudi Re among the top 50 industry leaders in the MENA region for the year 2011, "Power 50".



Trading Stocks in Saudi Arabia

"Mena Insurance Review" has listed Mr. Fahad Al-Hesni, CEO of Saudi Re among the top 50 industry leaders in the MENA region for the year 2011, "Power 50".



Saudi Re conducts a client seminar on “the reinsurance value proposition: actuarial modeling and capital management”

As part of its efforts to share best practice with its clients, Saudi Re has organized a seminar titled “the reinsurance value proposition: actuarial modeling and capital management”.

The event, held in Riyadh on Oct 8th 2011, was attended by an audience of senior executives in the Saudi insurance industry. In his opening remarks, Mr. Fahad Al-Hesni, CEO Saudi Re, said“The topic of the seminar was stimulated by discussions with some of our clients. Analyzing volatility and capital allocation per line of business can provide valuable insights in respect of developing a reinsurance strategy as well as a business strategy, and this seminar is intended to shed light on how benefit from actuarial analysis”. He also added “this comes as part of a series of seminars covering a spectrum of topics which Saudi Re host for its clients across different markets”.

 Beside Mr. Fahad Al-Hesni, CEO Saudi Re, other speakers were Mr. Andreas Bollmann, Saudi Re Chief Underwriting Officer who discussed the value proposition of reinsurance, Dr. Ameer Batcha, Saudi Re Chief Risk Officer who has lead a session on solvency regimes and risk based capital, and Mr. Safdar Jafar, Milliman’s Managing Director Middle East and Africa who discussed the value of actuarial modeling.

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