Saudi Re For Cooperative Reinsurance Co.

What Saudi Re For Cooperative Reinsurance Co. does

Saudi Re For Cooperative Reinsurance Co. (Saudi Re) is the first professional reinsurance company in Saudi Arabia, established by Royal Decree in November 2007 and listed on the Saudi Exchange (TADAWUL) under ticker 8200. The company provides treaty and facultative reinsurance on both proportional and non-proportional bases across ten lines of business: property, engineering, motor, marine, life, health, general accidents, energy, and inherent defects insurance. Its core technology is actuarial underwriting and risk assessment for treaty and facultative contracts, with no proprietary AI/ML or technology platform disclosed. Pricing is negotiated contract-by-contract based on actuarial modeling and risk profile; the company does not publicly disclose rates.

The business operates as a B2B reinsurer distributing directly to primary insurance companies via its underwriting teams and business development officers, without intermediaries. Revenue is generated primarily through gross written premiums, with FY2025 insurance revenue of SAR 1.67 billion (48% YoY growth) and GWP of SAR 2.9 billion. Secondary revenue comes from a conservative investment portfolio. As of 2025, the Public Investment Fund (PIF) holds a 23.08% strategic minority stake, and the company's paid-up capital of SAR 1.698 billion makes it the highest-capitalized listed insurer in Saudi Arabia and the top-capitalized reinsurer in the Middle East.

Saudi Re serves primary insurers across 40+ markets in the Middle East, Asia, and Africa through its headquarters in Riyadh and branches in Kuala Lumpur (since 2014) and GIFT City, India (launched January 2026). International business accounts for 36% of the portfolio as of 2025. The company holds an A- rating from S&P (Positive Outlook) and an A2 rating from Moody's (Stable Outlook, upgraded from A3 in April 2025). Recent strategic actions include the PIF investment (January 2025), the SAR 539.8 million capital increase (October 2025), the GIFT City expansion (January 2026), and a strategic minority investment in AdA Risk Holding, a London-based specialty underwriting platform at Lloyd's (July 2026).

Name

Saudi Re For Cooperative Reinsurance Co.

Legal name

الشركة السعودية لإعادة التأمين (Saudi Reinsurance Company)

Website

https://saudire.net

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Saudi Re is Saudi Arabia's first professional reinsurer, listed on TADAWUL and partially owned by PIF, providing treaty and facultative reinsurance across property, engineering, motor, marine, life, health, energy, and specialty lines to primary insurers in 40+ markets across MENA, Asia, and Africa.

Ownership category

akta.pro rank

Product category

Reinsurance

NAICS

Reinsurance Carriers (524130), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Facultative Specialty Lines Reinsurance (Marine, Aviation, Energy, Cyber, Surety, Political Risk) (FSAOAFAD)

akta.pro secondary industries

Property Facultative Reinsurance (FSAOAFAA), Casualty Facultative Reinsurance (FSAOAFAB), Facultative Accident & Health (A&H) Reinsurance (FSAOAFAI)

Keywords

• Reinsurance services
• Treaty reinsurance
• Facultative reinsurance
• Insurance risk transfer
• Reinsurance underwriting

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Reinsurance Premium Income: Saudi Re generates revenue primarily through gross written premiums from treaty and facultative reinsurance contracts. The company provides proportional and non-proportional reinsurance coverage to primary insurers across multiple lines of business including property, casualty, marine, energy, engineering, motor, health, and life insurance. Premium income forms the core revenue stream with 2025 GWP reaching SAR 2.9 billion.
2. Investment Returns: The company generates investment income from its investment portfolio, which is described as conservative with high-quality assets and low ratio of high-risk assets. Investment returns contribute to overall profitability alongside underwriting performance.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Saudi Re is a professional reinsurance company offering treaty and facultative reinsurance solutions on proportional and non-proportional basis to primary insurance companies. The company serves cedants across nine primary lines of business — Property, Engineering, Motor, Marine, Life, Health/Medical, General Accidents (Casualty), Energy, and Inherent Defects Insurance — across more than 40 markets in the Middle East, Asia, and Africa through its Riyadh headquarters and branches in Malaysia and India.

Product overview

Saudi Re operates as a full-fledged reinsurance company offering a comprehensive portfolio of reinsurance solutions. The company provides treaty and facultative reinsurance on both proportional and non-proportional basis across ten primary lines of business: Property, Engineering, Motor, Marine, Life Insurance, Health/Medical, General Accidents, Energy, and Inherent Defects Insurance. The core offering consists of two main product categories—Treaty Reinsurance and Facultative Reinsurance—which serve as the delivery mechanisms for all line-of-business solutions. Saudi Re also maintains Lloyd's Market presence through its investment in Probitas, enabling innovative specialty reinsurance solutions for the Lloyd's Market.

Differentiator

Problem solved

Functional benefit

Products and services

• Treaty Reinsurance
• Facultative Reinsurance
• Property Reinsurance
• Engineering Reinsurance
• Motor Reinsurance
• Marine Reinsurance
• Life Insurance Reinsurance
• Health/Medical Insurance Reinsurance
• General Accidents (Casualty) Reinsurance
• Energy Reinsurance
• Inherent Defects Insurance Reinsurance

Quantifiable outcome

• Gross Written Premiums reached SAR 2.9 billion in 2025, representing 24% growth from SAR 2.36 billion in 2024
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• AdA Risk Holding Co Limited (AdA)coreStrategic or Co-development Partner · 14 July 2026Saudi Re took a strategic minority stake in AdA, a London-based specialty underwriting business focused on delivering disciplined, high-quality underwriting across Energy, Marine, Cargo, Specie, and Aviation classes. Founded in 2023 by Natasha Jodrell, James Grainger, and Paddy Riordan, AdA launched via a Special Purpose Arrangement hosted by Probitas Managing Agency for the 2024 Year of Account and received approval for full syndicate status for the 2026 Year of Account. This partnership strengthens Saudi Re's foothold in the Lloyd's market and supports its global growth strategy while diversifying the portfolio and developing specialty reinsurance solutions.
• Damanat (Saudi Housing Guarantee Services Company)coreStrategic or Co-development Partner · 17 February 2025Saudi Re and Damanat signed a Memorandum of Understanding establishing a collaboration framework to develop insurance and reinsurance solutions for the mortgage financing sector. The partnership aims to design innovative risk management solutions supporting growth and stability of the mortgage financing sector, housing programs, and financial sector development. Both companies will collaborate on technical matters for insurance product development and reinsurance services including pricing models, underwriting mechanisms, and claims management. This MoU aligns with Saudi Arabia's Vision 2030 and aims to foster Saudi-international collaborations to enhance risk management.
• Tawuniya Insurance CompanycoreStrategic or Co-development Partner · 1 January 2025Saudi Re signed a reinsurance contract with Tawuniya Insurance Company, as the leader of the insurance pool for the 'Inherent Defects Insurance' product, to provide reinsurance coverage on the Inherent Defects Insurance Pool. This partnership strengthens Saudi Re's market position and supports the development of specialty reinsurance products in the Saudi market.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Regional players

• African Reinsurance Corporation (Africa Re): Africa Re is a pan-African reinsurer serving insurance markets across more than 40 African countries. Saudi Re serves 19+ African markets and competes directly with Africa Re for primary insurer treaties in those geographies.
• Gulf Reinsurance Limited: Gulf Re is a Dubai-based professional reinsurer serving MENA markets with treaty and facultative capacity. Most direct regional competitor to Saudi Re given overlapping geographic footprint and product offering in the MENA region.
• Trust International Insurance and Reinsurance Company (Trust Re): Trust Re is a Bahrain-headquartered reinsurer operating across MENA, Asia, and Africa with similar multi-line treaty and facultative offerings. Comparable to Saudi Re in target markets, scale, and product breadth.
• General Insurance Corporation of India (GIC Re): GIC Re is India's national reinsurer and the dominant domestic reinsurer, including operating in GIFT City. Direct competitor to Saudi Re in the Indian reinsurance market, particularly given Saudi Re's recent GIFT City branch opening.

Direct peers

• Swiss Re: Swiss Re is a global reinsurance leader with a comparable mix of treaty and facultative reinsurance across property, casualty, life, and specialty lines. Saudi Re competes directly with Swiss Re in MENA, Asia, and African markets for primary insurer mandates.
• Hannover Re: Hannover Re is one of the world's largest multi-line reinsurers offering treaty and facultative solutions across property, casualty, life, and specialty lines. Direct competitor to Saudi Re in global treaty and facultative reinsurance, with comparable product breadth and customer base. Notably, Saudi Re's CBDO Tarik Aouad previously served as General Manager of Hannover Re Bahrain.
• SCOR SE: SCOR is a global multi-line reinsurer offering life and property/casualty treaty and facultative solutions. Comparable to Saudi Re in product mix and international footprint, with similar mid-tier scale and global expansion ambitions.
• Munich Re: Munich Re is a global market-leading reinsurer offering comprehensive treaty and facultative solutions across all major lines of business. Comparable to Saudi Re in its multi-line offering, geographic diversification, and appetite for specialty risks, though materially larger scale.

Emerging players

• RGA Reinsurance Company: RGA is a global life and health reinsurer with strong presence in MENA and Asia. Comparable to Saudi Re in the life and health reinsurance line of business, though less direct overlap in P&C.
• AdA Risk Holding Co Limited: AdA is a London-based specialty Lloyd's underwriting platform focused on Energy, Marine, Cargo, Specie, and Aviation. Saudi Re took a strategic minority stake in AdA in July 2026, making it both a portfolio company and a strategic partner addressing overlapping specialty lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/saudire
• YouTubeyoutube.com/channel/UC82htsW_vX5fUybgzoBdveg
• LinkedInlinkedin.com/company/saudi-re/mycompany/?viewAsMember=true

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saudi Re For Cooperative Reinsurance Co.