Saturday 07 Rabi' I 1442 - 24 October 2020
    
  • Twitter Facebook Instagram Icon Linkedin Youtube Snapchat Alexa Icon RSS
Sign up for newsletter
Eye of Dubai
Business & Money | Thursday 20 August, 2020 12:15 pm |
Share:

Arqaam Capital Maintains Buy on Saudi Re and Increases Target Price of SAR to SR 14.7

Arqaam Capital maintained its Buy recommendation on the Saudi Reinsurance Company "Saudi Re" share and increased the target price from SAR 11 to SAR 14.7 per share. 

 

 

 

"Arqaam Capital" highlighted that the sole Saudi reinsurer is positioned to benefit from growth opportunities in the home market and expected Saudi Re to double premium within 3 years as Saudi Re was named exclusive reinsurer of the new compulsory Inherent Defect Insurance (IDI) for 5 years. 

 

 

 

"Arqaam Capital" added that Saudi Re continued to record double-digit premium growth of 30.1% y/y in H1, 2020 benefiting from both its increased credit rating (Moody’s A3) and the woes of its struggling regional competitors.

 

 

 

According to "Arqaam Capital", Saudi Re has an attractive valuation and a compelling growth prospects. The target price represents a growth opportunity of 46% from the current market price, which trades at less than its book value at a rate of book value of 0.9.

 

 

 

Saudi Re is a leading reinsurance company in the MENA region, providing risk transfer solutions to insurance companies in more than 40 markets. The company offers treaty and facultative reinsurance solutions in engineering, property, marine, casualty, motor, life and health.  

 

Share:
Print
Post Your Comment
Please write the answer of the below question for security verification.
ADD TO EYE OF Dubai
RELATED NEWS
Saudi Aramco increases fuel prices
Saudi Aramco increases fuel prices
Saturday 11 July, 2020 2:43
MOST POPULAR
 Fidget Less With Our New Widgets
Fidget Less With Our New Widgets
Thursday 22 October, 2020 1:21