Saudi Re seeks to expand presence in Egypt’s market

Saudi Re for Cooperative Reinsurance Company (Saudi Re), the leading reinsurance company in the MENA region, is seeking new expansions in the Egyptian market, stated Fahad Al-Hesni, Managing Director and Chief Executive Officer.

“Saudi Re will provide reinsurance support to major projects in Egypt’s engineering, infrastructure and power generation sector,” he added in a statement.

The Saudi insurer will also act as the main sponsor of the first annual Sharm El-Sheikh Insurance and Reinsurance Rendezvous which will be held in Sharm El-Sheikh from October 28 to 30, 2018, in an attempt to bolster its market position.

Commenting on its participation at Sharm El-Sheikh Insurance and Reinsurance Rendezvous, Al-Hesni asserted: "The Rendezvous will allow Saudi Re to interact with its clients and partners and provide a unique opportunity to take advantage of the experiences from different markets and help in developing the Egyptian insurance industry. We look forward to this global event and share our varied experiences and extensive knowledge of the nearly 40 markets where we operate."