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THE EVENING EDITIONInsurance. Risk. A changing world.
Evening edition / 3 November 2026Two editions a day, wire updated in between · How we report · The team

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GCC markets · Saudi Arabia · results

Saudi Re lifts nine-month profit 63% as premiums pass US$1bn

Saudi Reinsurance Company lifted nine-month 2026 net profit after zakat by 63% to SAR194m, while gross written premiums rose 50% to SAR3.9bn, passing US$1bn. Middle East Insurance Review linked the period to a new marine pool, an India branch and a Lloyd's investment.

GCC desk
AI-assisted summary · Source checkedReported by Asia / Middle East Insurance Review on
Summary published 3 November 2026
Illustration of a cargo ship beside a Saudi Arabian harbour quay with a blank ledger in the foreground.
Illustration. Not a photograph of the event.

Saudi Re reported net profit after zakat of SAR194m (US$51.7m) for the first nine months of 2026, up 63% from SAR118.7m a year earlier, Middle East Insurance Review reported. Reinsurance revenue grew 73% to SAR2bn, and gross written premiums increased 50% to SAR3.9bn (US$1.04bn). Growth was slower in the third quarter, when net profit after zakat rose 6% to SAR32.6m.

The publication said the company set up the Saudi Marine Insurance Pool, which Saudi Re leads under the supervision of the Insurance Authority. Saudi Re also opened a branch in India, its second in Asia after Malaysia, and increased its presence at Lloyd's through a strategic investment in AdA Risk Holding Co.

Chief executive Ahmed Al-Jabr said the result showed that the company's strategy was succeeding.

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This is an original summary of the linked report, selected by our GCC market monitor. Facts are attributed to the publication.

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