Riyadh - Mubasher: Saudi Reinsurance Company (Saudi Re) has obtained the approvals of the Saudi Insurance Authority and the relevant Indian authorities to open a branch in Gujarat International Finance Tec-City (GIFT City) in India.
Saudi Re has been operating in India for over ten years through its headquarters (HQ) in Riyadh and seeks to further strengthen its presence in the Asian market, according to a bourse disclosure.
This move aligns with the newly introduced regulations in the Indian insurance market, which prioritize local companies and international branches established in India.
Meanwhile, the company expects the financial impact to commence at the start of the branch’s operational activities during the second quarter (Q2) of 2026.
At the end of September 2025, Saudi Re logged 74.99% lower net profits after Zakat attributable to shareholders at SAR 118.76 million, compared to SAR 474.95 million a year earlier.
