Saudi Reinsurance has signed a reinsurance contract with Mediterranean and Gulf Insurance and Reinsurance Co (MedGulf).
The contract, signed on 4 February, is for one year, commencing on 1 January 2026.
Saudi Re said in a statement filed with the Saudi Exchange, “The contract value exceeds 5% of total revenue as per the latest audited financial statements for the year 2024.”
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Saudi Re data
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Reinsurance Revenue SAR
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Y-oY change
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2024 full year
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1,129,966,260
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80.2%
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2025 first nine months
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1,197,290,439
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45.3%
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The contract is expected to have an impact on the reinsurer's financial results for the 2026 fiscal year.