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Sector: Finance
Industry: Multi-Line Insurance
Saudi Re for Cooperative Reinsurance Co. engages in the provision of insurance and reinsurance services. Its business operations are carried out through the following segments: Engineering, Fire, Marine, Motor, Protection, General Accident, Specialty, and Others. The Engineering segment provides risks cover for the work, as well as a liability cover towards third parties for material damage or injury sustained. The Fire segment deals with coverage against fire, flood, earthquake and other external perils. The Marine segment covers the loss or damage to cargo, terminals, damage of ships, and other means of transport of cargo by which property is transferred between the points of origin and final destination. The Motor segment pays for loss or damage to own motor vehicles involved in accidents. The Protection includes term and credit life insurance. The General Accident segment covers a variety of events or properties, such as money, liabilities and personal accident whether for individual or group. The Specialty segment includes company's participation in Lloyd's market, which specializes in writing worldwide property, marine, energy, and specialty. The Others segment includes the aviation, energy, agriculture, political risk, and whole accounts, which covers ceding company’s retention on excess of loss basis. The company was founded on May 17, 2008 and is headquartered in Riyadh, Saudi Arabia.