Investor Presentaiton
12
Key Developments
Saudi Re is well-positioned to benefit from favourable
market conditions
إعادة
Saudi Re
Saudi Re
Capital
Increase
by 10% Through
Bonus Shares to
SR 891 M
Shareholders
Equity
SAR 960 M
Affirmation of
Rating A3 by
Moody's
(Global) and
A1.sa(National).
9M 2021:
▪ +36.5 % Net
Profit Before
Named
"Reinsurance
Company of
Zakat: SR 47.9 M the Year 2021"
9M 2021:
■ +29.8% GWP
Growth:
■ Highest on
record GWP:
SR 1,114 M
9M 2021:
Net UW Results
+30% SR
61M
By MIIA
Major Contract :
SR 177 M
Probitas Corporate
Capital Ltd
• SR 130 M
Medgulf
Implementing
IFRS 17 Final
Phase to meet
Q1, 2023
Deadline
Market
Signs for market hardening globally as a
reaction to losses e.g. Covid 19, which can
affect capacity deployment and increase
reinsurance pricing.
■ Local market indicates new trend in new lines
and compulsory insurance enforcement, e.g.
Motor TPL, Inherent Defects, Employers Default
Liability, Event Cancelation Liability, Drones
Liability, Covid-19
Covid-19 Travel Insurance, and
Domestic Helpers Insurance, Third Party
Liability on High Risks and Crowded Sites, Self
Driven Motor Insurance
■
Approval of the classifications of risks which will
be mandated to have a third party liability on
properties
■ Amendment of Cooperative Insurance Control
Law.
Public
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