According to the Insurance Regulations, all insurance companies in the Kingdom must reinsure at least 30% of their total premiums within the Kingdom. Saudi Re is the first company established in the Kingdom solely for the purposes of carrying out reinsurance activities and as such the Company will have an opportunity to make inroads into the market and gain significant market share before new entrants come in. Therefore, Saudi Re is being established at a time when it stands to benefit most from these new regulations.