Saudi Arabia: Saudi Re reports 32% jump in net profit on the back of 73% revenue growth in 1Q2026

Source: Middle East Insurance Review | Jun 2026

Saudi Reinsurance Company (Saudi Re) has reported a net profit after zakat of SAR46.7m ($12.5m) in the first quarter of 2026, representing a 32% increase compared to SAR35.4m in the corresponding period of 2025, according to a statement released by the reinsurer.

The first quarter results were driven by resilient underwriting and positive investment returns, Saudi Re said.

Insurance revenue in 1Q2026 recorded a significant 73% year-on-year increase, reaching SAR560m. Continued expansion across various lines of business in Saudi Arabia and international markets supported this growth.

Gross written premiums in 1Q2026 jumped by 37% to SAR2.38bn, up from SAR1.74bn in 1Q2025. M

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