Investor Presentaiton
Financial Strength Rating
Reflecting Competitive Advantages and Solid Financial
Position
إعادة
Saudi Re
S&P
MOODY'S
A-Stable
S&P noted that Saudi Re has continued to strengthen its
competitive position via profitable business growth and
diversification in recent years, thanks to local and
international expansion. At the same time, Saudi Re's
exposure to catastrophe and other large risks is relatively
modest and the company maintains capital adequacy
above the 'AAA' level in S&P's model.
As per S&P, the stable outlook reflects that Saudi Re will
maintain excellent capital adequacy and continue to
profitably expand and diversify its business over the next
two years.
Furthermore, S&P views the governance practices at Saudi
Re as effective and appropriate, and also regards the
consistency in strategy and management's expertise and
experience as a benefit to the company.
* S&P report on Saudi Re dated 16th December 2022 > link to the Announcement
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The A3 IFSR of Saudi Re reflects its:
A3 Stable
(i) strong brand and market position in Saudi Arabia as the
sole Saudi professional reinsurer as well as a growing
presence in its target markets of Asia, Africa and Lloyd's,
(ii) Preferential position in Saudi market due to a right of
first refusal on a portion of premiums ceded by primary
carriers in the Saudi market,
(iii) Strong asset quality exemplified by its conservative
investment portfolio,
(iv) Good capital adequacy, both in terms of capital levels,
with gross underwriting leverage (GUL) of 2.1x and
relatively modest exposure to natural catastrophe risk,
and
(v) Strong financial flexibility with nonexistent leverage and
good access to capital markets in Saudi Arabia given its
listing on the Saudi stock exchange, and broad investor
base.
Moody's report on Saudi Re dated 19th June 2022,
Link to the Announcement - Link To The Report
www.saudi-re.comView entire presentation