The reinsurer’s new CEO was previously leading Saudi Re in an acting capacity; in the first half of 2024 Saudi Re grew its book by 19% to SAR 1.4bn gross premium.
Saudi Re has announced the appointment of Ahmed Al-Jabr as its new chief executive, effective October 1 2024.
Al-Jabr (pictured) has been with Riyadh-based Saudi Re since 2011.
He previously held the position of chief operations officer before being promoted to the role of deputy CEO.
Subsequently, he was appointed as the reinsurer’s acting CEO earlier this year.
Saudi Re is a Middle East regional reinsurer, with operations spanning more than 40 markets, holding an ‘A-’ rating from Standard & Poor’s and an ‘A3’ rating from Moody’s.
With more than 25 years of experience in the insurance and reinsurance sectors, Al-Jabr brings expertise in senior roles across operations, strategy management, business development and others.
In the first half of 2024 Saudi Re reported gross written premiums of SAR 1.4bn, representing 19% growth over the prior year period.
In July this year Saudi Re announced it had completed the sale of its stake in Probitas to Aviva, which the UK insurer is using as a foothold into the Lloyd’s market.
Saudi Re said it was focused: “on executing its ‘Strategy Towards 2028’ with the aim of reinforcing its competitive position and sustaining its profitable growth momentum domestically and internationally.”
Saudi Re’s chief strategy and technology officer, Isa Ali, told an audience at the General Arab Insurance Federation (GAIF) conference in Muscat in February that the reinsurer is using technology to drive its environmental, social and governance (ESG) strategy, GR reported live from the event.
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