Saudi Arabia, the reinsurance company in the Middle East and North Africa region, announced its full-year financial results for 2025, with revenue reaching 1.67 billion Saudi riyals, an increase of 48% over the same period last year.
The company said the growth was driven by the expansion of multiple business lines domestically and internationally.
While revenue increased, net profit after zakat – a religious obligation for all Muslims who meet the necessary wealth criteria – fell to SAR 140 million.
This was a decrease of 71% compared to the SAR 475 million reported in the same period last year. The prior year period included exceptional capital gains of SAR 365.9 million.
Excluding non-recurring gains recorded in 2024, the company’s profit increased by 28%, supported by the balanced contribution of underwriting performance and investment income.
Additionally, gross written premiums (GWP) increased by 24% to SAR 2.9 billion in 2025, compared to SAR 2.36 billion in the same period a year earlier.
Ahmed Al-Jabr, CEO of Saudi Re, commented: “We continue to deliver sustainable profitable growth, driven by strong underwriting results, while delivering record total written premiums, with the company’s business volume doubling over the past three years.”
He added: “Our ambitious strategic focus is to strengthen our leadership position in the Middle East and support the Kingdom’s insurance industry by increasing insurance capabilities, improving premium retention and promoting the development of innovative insurance products, fully aligned with the National Insurance Strategy.”
With the addition of the Public Investment Fund as a strategic partner, Saudi Re will increase its capital by 90% to SAR 1.69 billion in 2025, in addition to issuing bonus shares.
The company noted that this makes Saudi Re “the most capitalized company in the insurance sector on the Saudi Stock Exchange and in the reinsurance industry in the entire Middle East.”
The company’s strengthened balance sheet has also attracted the attention of international ratings agencies. Moody’s raised the company’s credit rating to “A2” with a stable outlook, and S&P confirmed its “A-” rating, with the outlook adjusted from stable to positive.