Riyadh – Mubasher: Saudi Re for Cooperative Reinsurance Company obtained on 13 April the Saudi Central Bank’s (SAMA) approval to increase the capital by SAR 81 million, according to a disclosure to Tadawul on Wednesday.

Saudi Re will raise the capital from SAR 810 million to SAR 891 million by offering one bonus share for every 10 original shares.

Earlier this year, the company signed a one-year medical quota share reinsurance contract with the Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) at a total value of SAR 130 million.