Saudi Reinsurance Company (Saudi Re) on Sunday announced its financial results for the first half of the current financial year 2022 with improved operating results by 8%
RIYADH: Global credit rating agency Moody’s Investors Service has affirmed Saudi Reinsurance Co.’s rating at A3 on its Insurance Financial Strength Rating, with a stable outlook. The credit agency also affirmed Saudi Re’s A1.sa national scale IFSR with a stable outlook. This comes at a time when Saudi Re has undertaken a process to increase its capital to SR445.5 million ($119
Saudi Reinsurance Company is set to boost its capital from SR891 million ($237.5 million) to SR1.37 billion ($356 million) through an IPO following the board recommendation. With this, the number of shares will rise from 89.1 million to 133.65 million.
ARAB NEWS RIYADH: Saudi Reinsurance Co., or Saudi Re, board recommended a capital hike to support its future expansion activities. The company's new capital is to be increased from SR891 million ($237.5 million) to SR1.336 billion through a rights issue, it said in a statement on April 8. The capital hike through SR445.5 million rights issue will increase the number of shares