Saudi Re Maintains A2 Rating by Moody’s Ratings

Strength Rating (IFRS) at A2 with a Stable Outlook, announced Moody’s Ratings (Moody’s) following its periodic review completed in April 2026.

According to Moody’s, Saudi Re’s A2 IFSR reflects its established brand and market position in Saudi Arabia as the Kingdom’s first home-grown professional reinsurer, alongside a growing presence across the Middle East, Asia, and Africa. The rating also factors in the company’s preferential position in the domestic market through its right of first refusal on a portion of ceded premiums.

Moody’s further highlighted Saudi Re’s high-quality asset underpinned by a conservative investment portfolio as evidenced by a low ratio of high-risk assets. The rating also reflects Saudi Re’s good capital adequacy, with loss gross underwriting leverage of 1.3x at year-end 2025 and limited natural catastrophe exposure supported by adopting extensive retrocession programs.

The agency also noted Saudi Re’s consistent good profitability, and strong financial flexibility with no debt leverage and good access to local capital markets given its listing on the Saudi Stock Exchange and broad investor base.

Commenting on the announcement, Saudi Re CEO Ahmed Al-Jabr, said: “Maintaining our A2 rating reflects the credit worthiness and resilience of Saudi Re’s business model and the strength of the partnerships that Saudi Re has firmly established. It also reinforces the confidence of shareholders, clients and regulators in the company’s ability to meet its obligations, and further strengths Saudi Re’s strategic direction toward achieving its future objectives. Preserving this distinguished rating is particularly significant considering the geopolitical conditions currently affecting the region and underscores our ability to navigate uncertainty while pursuing long-term growth opportunities.”

Further supporting its financial standing, Saudi Re holds an ‘A-’ long-term issuer credit rating and insurer financial strength rating with a Positive Outlook from S&P Global Ratings, reflecting the company’s improving financial performance indicators. The agency highlighted Saudi Re’s robust risk-based capital adequacy a key rating strength, assessed at the ‘AAA’ benchmark in S&P capital model. S&P also commended Saudi Re for maintaining its superior underwriting performance, outperforming many of its regional and international peers.