Saudi Re's head office is in Riyadh, Saudi Arabia. From this base, the Company is offering its products across the MENA region and eventually beyond. Currently, Saudi Re does not plan to open any branches, either inside or outside the kingdom-in order to maintain its lean cost and organizational structure as well as its consistent underwriting approach.
The Company's management team and underwriters travel frequently to the various markets across the region where Saudi Re writes reinsurance business. This allows the company's management to gain first-hand knowledge of the situation in each market; at the same time, it permits the underwriters to market our products to both ceding companies and brokers while maintaining direct contact with the market we serve.
In Saudi Arabia, the Company acts primarily as a direct reinsurer, as the bulk of its KSA business comes directly from ceding companies in the market. This is not surprising given the historical development of the Saudi market and the limited role of brokers in KSA to date. However, Saudi Re is very cognizant of the growing role of brokers both in KSA and across the region. Especially outside of the Kingdom, the Company does expect to work with both brokers and ceding companies to develop its regional account. Regardless of the channel that is used, Saudi Re will leverage its existing relationships throughout the region to gain access to reinsurance business.
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