Saudi Re's net profit after zakat for January to September 2026 rose 63% to SAR194m, from SAR118.7m a year earlier, Reinsurance News reported on 2 November. Gross written premiums grew 50% to SAR3.9bn from SAR2.6bn, and insurance revenue rose 73% to SAR2bn from SAR1.2bn.
Profit growth slowed in the third quarter. Net profit after zakat for the three months was SAR32.6m, 6% more than the SAR30.7m of the same quarter in 2025. The company said domestic and international markets both contributed.
During the quarter, Saudi Re led the set-up of the Saudi Marine Insurance Pool, a scheme supervised by the Insurance Authority in which local insurers take part. Its purpose is to add capacity for marine risks. The reinsurer also pointed to the opening of a branch in India, its second in Asia after Malaysia, and a strategic investment in AdA Risk Holding to strengthen its presence at Lloyd's.
Chief executive Ahmed Al-Jabr said premiums had passed the US$1bn mark. He said Saudi Re is developing ways to add reinsurance capacity in lines including marine, aviation, political violence and event cancellation.
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Reinsurance News ↗News publisher · 2 Nov 2026
This is an original brief based on the linked publication. Company statements and forecasts are attributed to their source.
