Saudi Arabia: Chubb Arabia's board approves 10% stake in reinsurance venture
Source: Middle East Insurance Review | Feb 2026
Chubb Arabia Cooperative Insurance has announced that its board of directors has granted in-principle approval to participate in a 10% equity investment in a new reinsurance company in Saudi Arabia.
The investment is offered by Chubb International Investment, which together with the investment holding company, Al Khereiji Investment Company, is establishing the reinsurer, said Chubb Arabia in a statement lodged with the Saudi Exchange on 8 January 2026.
Chubb Arabia clarified that the board approval is non-binding at this stage and remains subject to obtaining all necessary regulatory approvals.
The reinsurance market in Saudi Arabia is undergoing profound transformation at present, with the recent establishment of the kingdom’s second locally incorporated reinsurer and a pipeline of new players waiting to enter the market.
One factor cited for driving growth in the Saudi reinsurance market has been the requirement, with effect from 1 January 2025, for local insurers to offer at least 30% of both facultative and treaty reinsurance cessions to licensed domestic reinsurers, who retain the right of first refusal. M