"Saudi Re" records SAR 118.8 million in profits and a 45% increase in revenues during the first nine months of 2025

Saudi Reinsurance Company “Saudi Re” announced its financial results for the third quarter of 2025, reporting a 45% increase in revenues during the first nine months of the year, reaching SAR 1.2 billion compared to the same period last year. This growth was driven by expansion across various business lines both locally and internationally.

The company achieved a net profit after zakat of SAR 118.8 million, representing a 75% decrease compared to SAR 475 million for the same period of the previous year. The decline was due to exceptional capital gains recorded in the same period last year amounting to SAR 365.9 million from the sale of its stake in Probitas Holdings. Continuing its upward trajectory, the company achieved a 35% growth in gross written premiums, reaching SAR 2.6 billion compared to SAR 1.9 billion in the same period of the previous year.

Commenting on the results, Ahmad Al Jabr, CEO of “Saudi Re”, said: “Saudi Re continues to strengthen its growth trajectory, focusing on expanding its operations, enhancing efficiency, and improving technical performance. The company achieved record levels of written premiums during the first nine months of 2025, with its business volume doubling over the past three years.”  He added: “We are progressing confidently toward realizing our 2028 strategic goals, capitalizing on our solid financial position, strong partnerships, and broad network of relationships to deliver innovative and comprehensive solutions to our clients both locally and globally.”

“Saudi Re” continues to strengthen its market position, following the recent announcement of a 46.6% capital increase to SAR 1.7 billion through the distribution of bonus shares — making it the top-capitalized listed company in the Saudi insurance sector and in the reinsurance sector in the Middle East.  In January, the company also completed a 30% capital increase through a strategic partnership with the Public Investment Fund (PIF).

Early this year, Moody’s upgraded 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.