News Middle East13 Nov 2023

Saudi Arabia:Local laws to boost reinsurer's financial performance

| 13 Nov 2023

Local legislation that gradually increases the mandatory cession, on a right of first refusal basis, to local reinsurers to 30% by 2025 from 20% in 2023 will have a positive impact on Saudi Reinsurance Company's business profile and profitability given its position as the sole Saudi professional reinsurer, says Moody's Investors Service (Moody's).

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