Page 22 - Issue-600-Special-November-2021

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 (%)
01 IGI UAE 467,300 349,300 1,279,200 1,009,080 394,700 312,150 31,700 23,600 8.03 A (AM BEST)
02 SCR MOROCCO 295,740 210,300 1,720,380 1,560,000 290,930 259,310 35,690 29,000 9.99 AAA (FITCH)
03 CCR ALGERIA 254,500 299,210 857,400 860,200 266,800 269,900 31,450 26,150 11.79 B+(AM BEST)
04 TRUST RE (1) BAHRAIN 250,000 250,000 1,640,000 1,640,000 385,000 385,000 - - - A- (AM BEST)
05 SAUDI RE KSA 249,370 215,000 760,000 707,820 246,190 233,900 12,250 15,820 4.98 A3 (Moody’s)
06 KUWAIT RE KUWAIT 187,010 168,870 529,460 480,010 186,570 174,370 17,190 15,440 9.21 A- (AM BEST)
07 CEDAR RE BERMUDA 186,050 174,420 456,600 313,570 102,290 94,130 11,100 -3,700 10.85
08 OMAN RE OMAN 64,300 53,100 210,000 199,000 66,500 60,000 3,770 2,100 5.67 BB+ (FITCH)
09 ARAB RE LEBANON 60,300 69,260 310,140 273,000 99,360 98,000 2,350 3,180 2.37 B (AM BEST)
10 TUNIS RE TUNISIA 55,830 57,110 324,540 260,620 74,920 70,620 4,300 4,110 5.74 B+(AM BEST)
11 NATIONAL RE SUDAN 36,720 25,500 19,060 16,780 8,740 3,690 540 930 6.18
12 CONNECT UNDERWRITING UK 34,700 30,160 29,400 24,450 18,300 14,810 3,500 3,320 19.13
13 IRAQ RE IRAQ 20,420 19,600 160,100 159,400 131,050 128,650 7,500 9,100 5.72
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 4.82
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 -9.85 A (S&P)
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 EQUITY BY NET PROFIT

(US$000) (US$000)

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

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