Insurance
Home›Insurance›Reinsurance›Saudi Re profit jumps 118% in Q2 2026 on revenue growth
Saudi Re profit jumps 118% in Q2 2026 on revenue growth
The Riyadh-based reinsurer said first-half revenues rose 71% to SAR 1.3 billion, while gross written premiums climbed 58% to SAR 3.3 billion.
Riyadh-headquartered reinsurer Saudi Re reported net profit after Zakat of SAR 115 million (USD 30.7m) for the second quarter of 2026, up 118% year over year from SAR 53 million (USD 14.2m) a year earlier, according to Reinsurance News.
The company attributed the improvement to continued growth across its business lines. For the first half of 2026, Saudi Re said net profit increased 84% year over year to SAR 162 million (USD 43.3m), with revenues rising 71% to SAR 1.3 billion (USD 347m).
Saudi Re also reported gross written premiums of SAR 3.3 billion (USD 882m) for the first half, up 58% from SAR 2.1 billion (USD 561m) in the prior year period.
Saudi Re CEO Ahmed Al-Jabr said the results reflect profitable and sustainable growth supported by investments to strengthen institutional and technical capabilities, and the company highlighted expansion including a branch in India’s GIFT City and an approval to acquire a 22.5% equity stake in UK-based AdA Risk Holding Co Limited.