NEWARK, CA – June 30, 2021 – RMS®, the world’s leading catastrophe risk solutions company, and the Saudi Reinsurance Company (Saudi Re) announce a new agreement, with Saudi Re adopting RMS models and services for a more comprehensive view across the Asian market. The agreement will enable Saudi Re to enhance risk analysis across multiple geographies including India, China, and the Philippines.
Saudi Re continues to grow its activities and client base in the Asian market, and is further enhancing its ‘in-house’ capability of assessing risks particularly in this expanding region.
“Our clients know and expect the best insights, service and quality from Saudi Re,” said Fahad Al-Hesni, MD-CEO at Saudi Re. “The new agreement with RMS will help ensure the continued delivery of these standards, through applied use of leading science and technology. Being the first to acquire RMS models in the Saudi and Gulf Cooperation Council (re)insurance market, we expect that our use of RMS models will increase value, and ultimately profitability, to all our global clients when managing their risk.”
RMS EVP Client Development Pat McCarthy said, “We are honored to be working with Saudi Re. With this deal, the reinsurance and insurance markets in the Middle East and Saudi Arabia are able to take full advantage of the latest science and technology to help navigate the evolving risk landscape. Our continued investment in our models and services aims to give Saudi Re full confidence that they will be in the best position to proactively support their own clients and goals.”
About Saudi Re
Saudi Reinsurance Company "Saudi Re" is a Saudi joint stock company, founded in Riyadh in 2008 as the first reinsurance company established in Saudi Arabia.
With offices in Riyadh (Saudi Arabia) and Kuala Lumpur (Malaysia), Saudi Re is one of the MENA regions leading reinsurers and has a diversified global portfolio which expands over 40 countries across the Middle East, Asia, and Africa. Saudi Re is A3 rated by Moody’s with a stable outlook.