Saudi Reinsurance Company · TADAWUL:8200
Saudi Reinsurance — Q1 2026 Earnings Presentation
32 slides from Saudi Reinsurance's earnings presentation, May 2026
Slide 1: Q1 2026 Investor Presentation
Q1 2026 Investor Presentation Saudi Reinsurance Company TASI 8200 RIC 8200.SE ISIN SA1210540419 Saudi Re IR App : Restricted Restricted-3 3
Slide 2: Profile
Profile Restricted Restricted-3 3
Slide 3: Anchored for Ambition
Anchored for Ambition Building on our foundation as the Kingdom’s National Champion, Saudi Re has evolved into the largest and one of the fastest-growing reinsurers in the region. Our growth trajectory, defined by “Strategy Towards 2028,” is a commitment to the ambitions of Saudi Vision 2030. Driven
Slide 4: Saudi Re has proven a strong ability to outperform its strategic ambition
Saudi Re has proven a strong ability to outperform its strategic ambition Capitalizing on the o Supporting Saudi vision 2030, strengthening and de-risking growth potential of the businesses and key projects in KSA Saudi economy and o Play an anchor role in increased domestic market retention and lev
Slide 5: Saudi Re Profile
Saudi Re Profile SAR 1st Saudi 2008 1,698.1 A2/A- Established Mn. Rating by Reinsurer Capital Moody’s / S & P Head Office PIF Portfolio Co. Riyadh Branch 40+ Countries Ranks 1st MENA Reinsurance Malaysia & India 5 Restricted Restricted-3 3 www.saudi-re.com
Slide 6: Saudi Re Growth Journey
Saudi Re Growth Journey A2 Rating Bbb+ Rating Restructuring Enhance Lloyd’s Investing in 60% Capital MoU By Moody’s By S&P Reserves Participation Lloyd’s Probitas International Increase with PIF Holdings Business by 10% A- Rating with bonus positive outlook by shares S&P 2008 2009 2010 2011 2012 201
Slide 7: Saudi Re Geo Presence
Saudi Re Geo Presence International Expansion & Diversification HO, KSA Branch, Branch, 2008 India Malaysia 2026 2014 UK 1 40+ Markets Asia 16 Serving clients in 40+ countries in MENA, Asia and 19 Africa Middle East 9 Africa Direct Participation Indirect Participation / Lloyd’s 7 Restricted Restrict
Slide 8: Solid Performance and Promising Prospects
Solid Performance and Promising Prospects Key Messages Key highlights SAR 2.9 B Gross Written Premiums in 2025 ▪ Significant gross premium growth at 24% y-o-y, and revenue growth by 48% Sustained Revenue y-o-y, outpacing strategy targets 1 Scaling and ▪ Focus on core markets while ensuring profitabi
Slide 9: Sustained Revenue Scaling and Diversification
Sustained Revenue Scaling and Diversification GWP experienced a strong growth in KSA Geographical diversification and Middle East 2025 Highlights GWP evolution by geography GWP Diversification • Executed 2 capital increase in 2025 increasing the capital by 90% (2020-2025, SAR M) (2023-2025, SAR M) t
Slide 10: Profitability and financial soundness
Profitability and financial soundness Solid performance Sustaining Bottom Line Growth Improving the Operational Performance Comments Net profit after Zakat and Tax Reinsurance Service Result ▪ Saudi Re delivered a strong overall performance (2022-Q1 2026, SAR M) (2022-Q1 2026, SAR M) in 2025, with y
Slide 11: Profitability and financial soundness: Solid Capital and Solvency Position
Profitability and financial soundness Solid Capital and Solvency Position Capital Solvency Credit Rating Comments Doubled in one year Solid margins above regulatory Improved Credit Rating 2024-2025, SAR Billion 2025 Saudi Re is the highest-capitalized insurance requirements company listed on the Sau
Slide 12: Strong Growth Prospects
Strong Growth Prospects Favorable domestic market, expanding reinsurance opportunities National Insurance Strategy Full potential of KSA GWP growth 72 strategic initiatives have been identified across 8 main programs, in addition (2025A, 2030F, SAR B) to enabling programs, to achieve sector-wide imp
Slide 13: Financial Performance
Financial Performance Restricted Restricted-3 3
Slide 14: Value Drivers YE 2025
Profitability and financial soundness Value Drivers YE 2025 GROSS WRITTEN PREMIUM RI REVENUE RI SERVICE RESULTS YE 2025 – SR 2.93B 24% YE 2025 – SR 1,672.50M YE 2025 – SR 170.73M 48% 20% YE 2024 – SR 2.36B YE 2024 – SR 1,129.97M YE 2024 – SR 142.53M NET PROFIT COMBINED RATIO G&A RATIO YE 2025
Slide 15: Value Drivers Q1 2026
Profitability and financial soundness Value Drivers Q1 2026 GROSS WRITTEN PREMIUM RI REVENUE RI SERVICE RESULTS Q1 2026 – SR 2.38B 37% Q1 2026 – SR 560.18M Q1 2026 – SR 62.12M 73% 56% Q1 2025 – SR 1.74B Q1 2025 – SR 323.40M Q1 2025 – SR 39.86M NET PROFIT COMBINED RATIO G&A RATIO Q1 2026 – SR 4
Slide 16: Q1 2026 Income Statement & Key Ratios
Q1 2026 Income Statement & Key Ratios SAR Million Q1’26 Q1’25 % Reinsurance revenue 560.18 323.40 73% Reinsurance service expenses (383.97) (277.68) 38% Change Net expenses from retrocession contracts (114.09) (5.87) 1844% Q1’26 Q1’25 (PP) Reinsurance service result 62.12 39.86 56% Key Ratios Net fi
Slide 17: YE 2025 Income Statement & Key Ratios
YE 2025 Income Statement & Key Ratios SAR Million YE’25 YE’24 % Reinsurance revenue 1,672.50 1,129.97 48% Reinsurance service expenses (1,468.14) (987.82) 49% Change Net expenses from retrocession contracts (33.63) 0.39 YE’25 YE’24 (PP) Reinsurance service result 170.73 142.53 20% Key Ratios Finance
Slide 18: Sustainable Track Record of Profitable Growth
Sustainable Track Record of Profitable Growth Gross Written Premium SR ‘M CAGR 26% 2,927 36% 2,359 2,376 1,049 1,742 1,403 1,597 935 1,115 1,381 1,665 783 1,197 482 788 1,878 346 633 615 814 978 710 588 544 2020 2021 2022 2023 2024 2025 Q1 2025 Q1 2026 International KSA Net Profit After Zakat SAR
Slide 19: Sustainable Track Record of Profitable Growth
Sustainable Track Record of Profitable Growth Gross Written Premium SR ‘M CAGR 26% 2,927 2,359 24% 1,403 1,597 1,878 935 1,115 1,379 788 783 346 482 814 980 1,049 588 633 615 2020 2021 2022 2023 2024 2025 International KSA Net Profit After Zakat SAR M Reinsurance Service Result SAR M 20% 474.8
Slide 20: Reinsurance Revenue & Service Results by Segment & GEO Q1 2026
Reinsurance Revenue & Reinsurance Service Results by Segment & GEO Q1 2026 Reinsurance Revenue by Segment Reinsurance Service Results by Segment 560.18 (SAR Mn.) (SAR Mn.) 62.12 163.08 29.1% 15.22 24.5% 323.41 39.86 13.80 4.3% 3.77 9.5% 70.9% 397.10 46.90 75.5% 309.61 95.7% 36.09 90.5% Q1 2025 Q1 20
Slide 21: Reinsurance Revenue & Service Results by Segment & GEO YE 2025
Reinsurance Revenue & Reinsurance Service Results by Segment & GEO YE 2025 Reinsurance Revenue by Segment Reinsurance Service Results by Segment 1,672.5 (SAR Mn.) (SAR Mn.) 170.7 70.8 4.3% 9.3 5.5% 142.5 1,129.9 11.4 7.9% 48.2 4.3% 1,601.7 95.7% 161.4 94.5% 1,081.7 131.2 92.1% 95.7% YE 2024 YE 2025
Slide 22: Investment Performance
Investment Performance Restricted Restricted-3 3
Slide 23: Investments Q1 2026
Investments Q1 2026 Quality Investment Assets and Robust Returns Shareholders’ Funds Total Portfolio (SAR Mn.) Policyholders’ Funds Total Portfolio (SAR Mn.) 1500 2500 1288.55 2062.68 2090.05 1,194.58 2000 90.27 0 97.471 00 138.802 1031.10 0 85.998 41.37 1000 0 207.06 207.057 40.22 1500 1390.80 8.7
Slide 24: Investments 2025
Investments 2025 Quality Investment Assets and Robust Returns Shareholders’ Funds Total Portfolio (SAR Mn.) Policyholders’ Funds Total Portfolio (SAR Mn.) Money Market Fixed Income Global Equities GCC/Saudi Equities Others 2500 1400 Money Market Fixed Income GCC/Saudi Equities 1,195.08 2046.79 1200
Slide 25: Investments Q1 2026
Investments Q1 2026 Quality Investment Assets and Robust Returns (SAR Mn.) Total Investments 3,500.00 3,378.60 3,257.26 0 0 130.49 127.37 236.273 3,000.00 2,421.90 2,500.00 1,392.60 0 8.70 1,400.82 2,000.00 1,772.35 1,575.66 1,204.10 1,480.40 208.99 1,500.00 156.8 0 1,240.00 163.9 0 8.30 383.49 91.6
Slide 26: Investments 2025
Investments 2025 Quality Investment Assets and Robust Returns (SAR Mn.) Total Investments Money Market Fixed Income Global Equities GCC/Saudi Equities Others 3,500.00 3,241.87 130.49 3,000.00 0 2,421.90 2,500.00 1,392.83 8.70 2,000.00 1,772.35 1,575.66 1,204.10 1,480.40 208.99 1,500.00 50.53 156.8 8
Slide 27: Investment Maturity Q1 2026
Investment Maturity Q1 2026 Flexible and Diversified Profile Policyholders Investments Shareholder Investments Total Investments >10 yrs, >10 yrs, Listed Equity, 4.1% 1.2% Listed >10 yrs, 0.7% Listed Daily Liquidity 0.4% Daily Equity, 3.2% Equity, 3.8% Daily Liquidity (incl 8-10yrs, (incl cash), Liq
Slide 28: Investment Maturity 2025
Investment Maturity 2025 Flexible and Diversified Profile Policyholders Investments Shareholder Investments Total Investments Listed Equity, Daily >10 yrs, 4.4% Liquidity 0.3% 8-10yrs, Listed >10 yrs, 0.0% 0.4% Daily (incl cash), 8-10yrs, Listed Equity, 3.4% Liquidity 12.3% 4.2% Equity, 4.0% Daily L
Slide 29: Disclaimer
Disclaimer This presentation has been prepared by the management of This presentation may include forward-looking statements obligation or undertaking to review, update or release any Saudi Reinsurance Co “Saudi Re” (“The Company”). It does that reflect the Company's intentions, beliefs or current u
Slide 30: Financial Strength Rating
Financial Strength Rating Reflecting Competitive Advantages and Solid Financial Position A-, Positive Outlook A2 Stable, Upgraded in April 2025 The financial rating of Saudi Re reflects: The A2 IFSR of Saudi Re reflects : • Strong competitiveness over the past two years, fueled by the • Strengthened
Slide 31: Shariyah Compliant
Shariyah Compliant Shariyah Review Bureau 31 Restricted Restricted-3 3 www.saudi-re.com
Slide 32: Thank You
Thank You Investor Relations Department: Invest@saudi-re.com +966 11 510 2000 Ext: 181 Saudi Re Director’s Report 2025 Restricted Restricted-3 3
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