Logo ofSaudi Reinsurance Co. (Saudi Re)
Saudi Reinsurance Co. (Saudi Re) announced that it received on May 4 the Insurance Authority’s approval on the company’s capital increase from SAR 1.16 billion to SAR 1.7 billion through the capitalization of SAR 539.8 million from retained earnings. 
In a statement on Tadawul, the company said that approval is valid for one year, provided all requirements of other relevant regulatory authorities are fulfilled.
Any future material developments will be disclosed as they arise.
Saudi Re’s board of directors recommended in March to increase the company’s capital by 46.6%, from SAR 1.158 billion to SAR 1.698 billion, by issuing 51.48 million bonus shares, at four shares for every nine existing shares.
An additional 2.5 million shares will be allocated to the company’s long-term employee incentive plan, data compiled with Argaam showed.
Logo ofSaudi Reinsurance Co. (Saudi Re)
Saudi Reinsurance Co. (Saudi Re) announced that it received on May 4 the Insurance Authority’s approval on the company’s capital increase from SAR 1.16 billion to SAR 1.7 billion through the capitalization of SAR 539.8 million from retained earnings.
In a statement on Tadawul, the company said that approval is valid for one year, provided all requirements of other relevant regulatory authorities are fulfilled.
Any future material developments will be disclosed as they arise.
Saudi Re’s board of directors recommended in March to increase the company’s capital by 46.6%, from SAR 1.158 billion to SAR 1.698 billion, by issuing 51.48 million bonus shares, at four shares for every nine existing shares.
An additional 2.5 million shares will be allocated to the company’s long-term employee incentive plan, data compiled with Argaam showed.
