Saudi Re Reports SAR 194 million Net Profit for the First Nine Months of 2026, and Insurance revenue rose 73%

Saudi Reinsurance Company "Saudi Re" announced its financial results for the third quarter of 2026. Net profit after Zakat rose 6% to SAR 32.6 million, compared to SAR 30.7 million in the same quarter of the previous year. This growth was driven by balanced performance across both domestic and international markets. For the first nine months of the year, net profit after Zakat increased 63% to SAR 194 million, compared to SAR 118.7 million in the same period last year. Insurance revenue rose 73% to SAR 2 billion, compared to SAR 1.2 billion in the same period. Gross Written Premiums grew 50% to SAR 3.9 billion, compared to SAR 2.6 billion in the same period of the previous year.

Commenting on the results, Ahmed Al-Jabr, CEO of Saudi Re, said: “This exceptional performance reflects the success of our strategy in delivering strong, profitable and sustainable growth, marked by Gross Written Premiums surpassing the USD 1 billion milestone. It demonstrates the strength and resilience of our business model, as well as our ability to maintain our growth trajectory, achieve our strategic targets, and consolidate our regional leadership.”

Al-Jabr added: “We remain agile in responding to evolving market conditions, with a clear focus on meeting our clients’ needs amid geopolitical developments and addressing emerging insurance protection gaps. In this context, we continue to develop innovative solutions that provide additional reinsurance capacity and address the evolving needs of the markets with greater efficiency and flexibility, particularly across marine, aviation, political violence and event cancellation, among other lines of business.” The third quarter also witnessed the establishment of the Saudi Marine Insurance Pool, led by Saudi Re under the supervision of the Insurance Authority, with the participation of insurance companies. This national public-private initiative is designed to expand insurance capacity for marine risks, support the continuity of trade, and contribute to strengthening the Kingdom’s position as a global logistics hub.

Saudi Re continues to advance its international expansion strategy. Key milestones this year included the opening of its branch in India, its second in Asia after Malaysia, and the strengthening of its presence in the Lloyd’s market through its strategic investment in AdA Risk Holding Co. Limited. These developments support the geographic diversification of the company’s portfolio and broaden its access to priority international markets.

Saudi Re is a Public Investment Fund portfolio company listed on the Saudi Exchange with a paid-up capital of SAR 1.7 billion. The Company is among the leading reinsurance providers in the MENA region. Established in 2008 as a composite reinsurer, Saudi Re offers a wide range of treaty and facultative reinsurance solutions, The Company holds Moody’s A2 rating and S&P A- rating with a Positive Outlook. Saudi Re operates in more than 40 markets across the Middle East, Asia, and Africa through its headquarters in Riyadh and its branches in Malaysia and India.