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Middle Eastern reinsurers: ranking according to turnover 2023
December 12, 2024
Figures in thousands USD
| Rank | Companies | Turnovers | Shareholders’ equity | Net result | ROE | Combined ratio (1) | |||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2022-2023 evolution | Parts 2023 | ||||||
| 1 | International General Insurance. IGI | 688 678 | 581 983 | 18% | 36.60% | 540 430 | 118 194 | 21.9% | 73.24% |
| 2 | Saudi Re | 425 601 | 373 694 | 14% | 22.60% | 305 628 | 33 698 | 11.0% | 81.28% |
| 3 | Kuwait Re | 231 785 | 190 392 | 22% | 12.30% | 258 694 | 35 168 | 13.6% | 98.26% |
| 4 | Hannover Retakaful | 221 252 | 217 791 | 2% | 11.70% | 233 511 | 26 596 | 11.4% | 92.63% |
| 5 | Hannover Rück Bahrain Branch | 123 791 | 134 218 | -8% | 6.60% | 63 422 | 29 022 | 45.8% | 58.96% |
| 6 | Oman Re | 119 946 | 95 164 | 26% | 6.40% | 85 648 | 6 583 | 7.7% | 91% |
| 7 | Arab Re | 73 086 | 61 405 | 19% | 3.90% | 114 331 | 5 135 | 4.5% | 110.16% |
| Total | 1 884 139 | 1 654 647 | 14% | 100% | 1 601 664 | 254 396 | 15.9% | - | |
(1) Combined IFRS 17 ratio for Saudi Re, Kuwait Re, Hannover Rück and Oman Re
Source: Atlas Magazine
