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PIF acquires 23.08% stake in Saudi Re

Written by Adam Cadle
13/01/2025

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has acquired a 23.08% stake in Saudi Re by way of a capital increase and subscription to new shares, with the suspension of pre-emptive rights in accordance with Capital Market Authority (CMA) regulations.

The fund said its capital investment aims to enhance Saudi Re’s growth potential by adding to its financial capacity and further strengthening its credit rating.

The investment also supports Saudi insurance firms by enabling Saudi Re to deliver high-quality reinsurance, permitting Saudi insurance companies to manage risk more effectively.

Sultan Alsheikh, head of financial institutions in MENA investments at PIF, said: “By investing in Saudi Re, PIF is reinforcing a leading regional reinsurer and strengthening Saudi Arabia’s insurance sector, which is an essential component of sustainable economic growth.”


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