Arqaam Capital has maintained its buy recommendation on Saudi Reinsurance Company (Re) and raised its price target to SAR 11, while including Re in its list of recommended stocks to buy in the Saudi insurance sector.

In a recent report, Arqaam Capital explained that the most important catalysts for the stock's growth are the continued improvement in operating profits, as well as the sustainability of expected investment returns.

In a recent report, Arqaam Capital explained that the main drivers of the stock's growth are the continued improvement in operating profits, as well as the sustainability of investment returns and expectations of gradually increasing the return on equity.

The Arqaam Capital report emphasized that Re has maintained the improvement in the underwriting margin, which was in line with its previous expectations, while it expects this improvement to continue to reach 4.2% in 2023 as a result of a more balanced insurance portfolio and increased geographical diversification.

The Arqaam Capital report emphasized that Re has maintained the path of improvement in the underwriting margin, which came in line with its previous expectations.

Arqaam Capital welcomed the company's move to increase the proportion of its fixed income investments to 79% in 2019, which will reduce the effects of fluctuations in investment returns and maintain their sustainability, and the company's investment results came in line with Arqaam Capital's expectations, achieving a growth of 59% in the first nine months of this year compared to the same period last year, benefiting from the company's investment in Probitaz in the British Lloyd's market, which contributed 21% of the investment returns.