Page 59 - 33rd Edition GAIF Pre-Conference May 2022 Issue 606

MENA REINSURANCE Cos RANKED BY PREMIUM WRITTEN 2020

(US$000)

Rank Company Name Country Premium Premium Assets Assets Shareholders Shareholders Net Profit Net Profit Roe Rating
2020 2019 2020 2019 (%)
Equity 2020 Equity 2019 2020 2019 8.03 A (AM BEST)
9.99 AAA (FITCH)
01 IGI UAE 467,300 349,300 1,279,200 1,009,080 394,700 312,150 31,700 23,600 11.79 B+(AM BEST)

02 SCR MOROCCO 295,740 210,300 1,720,380 1,560,000 290,930 259,310 35,690 29,000 - A- (AM BEST)
4.98 A3 (Moody’s)
03 CCR ALGERIA 254,500 299,210 857,400 860,200 266,800 269,900 31,450 26,150 9.21 A- (AM BEST)
10.85
04 TRUST RE (1) BAHRAIN 250,000 250,000 1,640,000 1,640,000 385,000 385,000 -- 5.67 BB+ (FITCH)
2.37 B (AM BEST)
05 SAUDI RE KSA 249,370 215,000 760,000 707,820 246,190 233,900 12,250 15,820 5.74 B+(AM BEST)
6.18
06 KUWAIT RE KUWAIT 187,010 168,870 529,460 480,010 186,570 174,370 17,190 15,440 19.13
5.72
07 CEDAR RE BERMUDA 186,050 174,420 456,600 313,570 102,290 94,130 11,100 -3,700
-
08 OMAN RE OMAN 64,300 53,100 210,000 199,000 66,500 60,000 3,770 2,100 -
4.82
09 ARAB RE LEBANON 60,300 69,260 310,140 273,000 99,360 98,000 2,350 3,180 -
-9.85 A (S&P)
10 TUNIS RE TUNISIA 55,830 57,110 324,540 260,620 74,920 70,620 4,300 4,110

11 NATIONAL RE SUDAN 36,720 25,500 19,060 16,780 8,740 3,690 540 930

12 CONNECT UNDERWRITING UK 34,700 30,160 29,400 24,450 18,300 14,810 3,500 3,320

13 IRAQ RE IRAQ 20,420 19,600 160,100 159,400 131,050 128,650 7,500 9,100

14 MAMDA RE MOROCCO 13,300 12,900 - - - - - -

15 ARAB UNION RE SYRIA 2,650 2,500 35,000 45,000 7,000 12,200 N/A 1,100

16 ARIG (2) BAHRAIN -17,300 194,610 790,630 1,035,840 262,430 246,330 12,660 18,430

17 MENA RE UAE N/A N/A N/A N/A N/A N/A N/A N/A

QATAR RE (3) QATAR 2,147,290 2,211,320 7,147,810 6,237,880 1,223,400 1,132,530 -120,510 -28,290

TOTAL (US$ 000) 4,308,170 4,343,160 16,269,710 14,822,650 3,764,180 3,495,590 46,860 120,290

(1) Result 2019 (2) Stopped Operations (3) Most of it’s Premium Outside Arab Markets

MENA REINSURANCE Cos MENA REINSURANCE Cos
BY NET PROFIT
BY EQUITY
(US$000)
(US$000)

Rank Company Country Equity Rank Company Country Net Profit Net Profit
Name 2020 Name 2020 2019
QATAR
01 QATAR RE (3) UAE 1,223,400 01 IGI UAE 31,700 23,600
02 IGI BAHRAIN 394,700 31,450 26,150
03 TRUST RE (1) MOROCCO 385,000 02 CCR ALGERIA 29,060 29,000
04 SCR ALGERIA 290,930 03 SCR MOROCCO 17,190 15,440
05 CCR BAHRAIN 266,800 04 KUWAIT RE KUWAIT 12,660 18,430
06 ARIG (2) KSA 262,430 05 ARIG (2) BAHRAIN 12,250 15,820
07 SAUDI RE KUWAIT 246,190 06 SAUDI RE KSA 11,100 -3,700
08 KUWAIT RE IRAQ 186,570
09 IRAQ RE BERMUDA 131,050 07 CEDAR RE BERMUDA 7,500 9,100
10 CEDAR RE LEBANON 102,290 08 IRAQ RE IRAQ 4,300 4,110
11 ARAB RE TUNISIA 99,360 3,770 2.100
12 TUNIS RE OMAN 74,920 09 TUNIS RE TUNISIA 3,500 3,320
13 OMAN RE UK 66,500 2,350 3,180
14 CONNECT UNDERWRITING SUDAN 18,300 10 OMAN RE OMAN
15 NATIONAL RE SYRIA 8,740 540 930
16 ARAB UNION RE UAE 7,000 11 CONNECT UNDERWRITING UK N/A 1,100
17 MENA RE MOROCCO N/A N/A
18 MAMDA RE - 12 ARAB RE LEBANON N/A
- -
TOTAL (US$ 000) 3,764,180 13 NATIONAL RE SUDAN - -
-120,510
14 ARAB UNION RE SYRIA 46,860 -28,290
15 MENA RE UAE 120,290
16 TRUST RE (1) BAHRAIN
17 MAMDA RE MOROCCO
18 QATAR RE (3) QATAR

TOTAL (US$ 000)

59 AL BAYAN ECONOMIC MAG - ISSUE 607 - JUNE 2022