Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has named Ahmed Ali Al Jabr as its Acting CEO, effective on 1 April 2024.
The board members greenlighted the appointments on 15 March 2024, while the insurance authority granted its approval on 21 March, according to a bourse disclosure.
Al Jabr has over 25 years of experience in the insurance and reinsurance sector. He assumed several executive roles before joining Saudi Re in 2011,
He served as the General Manager of Strategy Management in The Company for Cooperative Insurance (Tawuniya).
Saudi Re recently sold its shareholding in Probitas Holdings (Bermuda) Limited and its subsidiary at a value of GBP 120 million.
Regarding the financial statements, the net profits of Saudi Re increased by 55.09% to SAR 121.50 million as of 30 September 2023, compared to SAR 78.34 million a year earlier.