Riyadh Reinsurance Company was officially launched on Nov. 10 at the Global Insurance Conference and Exhibition Ingate in 黑料社区, after receiving the final license from Insurance Authority, marking a major milestone in the advancement of the Kingdom鈥檚 reinsurance landscape. Headquartered in Riyadh and incorporated on Nov. 4, Riyadh Re embodies the national vision to localize reinsurance capacity, develop local expertise, and reinforce financial resilience in alignment with Saudi Vision 2030.
Riyadh Re enters the market with a strong capital base of SR550 million ($146.6 million), backed 100 percent by Tawuniya, Middle East鈥檚 largest insurer. This strong financial foundation, combined with fulfilling strong credit rating requirements, positions Riyadh Re as a highly credible and resilient reinsurer capable of serving both local and international partners.
The company鈥檚 strength lies in its blend of local insight, regional reach, and global reinsurance expertise, empowering it to deliver tailored risk solutions that meet evolving client needs with precision and reliability.
Riyadh Re is focused on enabling primary insurers to manage large-scale exposures through collaborative reinsurance frameworks. This collaborative approach ensures financial security and resilience for economic growth across industries. Its offerings are designed to provide bespoke reinsurance solutions, comprehensive coverage for commercial and industrial assets including catastrophe risk mitigation, and reinsurance for long-term, capital-intensive projects across energy, real estate, infrastructure, logistics and utilities.
Fahad Al-Hesni, CEO of Riyadh Re, said: 鈥淩iyadh Re provides facultative and treaty reinsurance solutions across diverse lines of business, including property and casualty, engineering, construction, marine, energy, aviation, financial, and cyber risks.
With a Phase 1 focus on 黑料社区, GCC, and MENA markets, Riyadh Re will build strong regional partnerships and develop localized risk capabilities. In Phase 2, the company aims to expand across global markets, establishing itself as an internationally recognized reinsurer with Saudi roots.
鈥淲ith a deep underwriting expertise, advanced technology platforms and data-driven analytics, we are building a national reinsurance champion with global standards contributing to the development of the Saudi Insurance sector.鈥
Organized by the Insurance Authority, Global Insurance Conference and Exhibition Ingate serves as a key platform for industry leaders to exchange insights and shape the future of the sector.
