Saudi Reinsurance Company (Saudi Re) has won the “Reinsurance Company of the Year” award at the 8th Middle East Insurance Industry Awards 2021 held virtually in Dubai.
Managing Director and CEO at Saudi Re Said Fahad al-Hesni said: “We are very delighted that Saudi Re won the Reinsurance Company of the Year award, which recognizes the evolution of Saudi Re and reflects its client-centric approach, commitment to market development, and efforts to promote sustainable practices.”
The judging panel noted that Saudi Re succeeded in sustaining its growth momentum in 2020, despite the unprecedented market challenges caused by the COVID-19 pandemic.
In line with its strategy to develop international business, Saudi Re successfully built strong relationship with clients and brokers outside its home market, projecting an image of a leading and reliable Middle Eastern reinsurer.
In 2020, Saudi Re’s international business grew to represent 63 percent of the overall portfolio, increasing its presence in more than 40 countries across Asia, the Middle East, Africa, and Lloyd’s market.
Saudi Re is the first Middle Eastern reinsurer to publish a sustainability report developed according to national and international strategic visions and objectives.
