“Chedid Re has been doing business in the Kingdom since 1998 and by setting up our Saudi operations, we will be getting closer to our clients in the Kingdom,” said Farid Chedid, chairman and CEO of Chedid Re Group of Companies.

The Saudi affiliate previously received a license from the Saudi Arabian Monetary Agency (SAMA).

Chedid Re was established in Cyprus in 1998. It is present in several markets in Europe and in the MENA region including Cyprus, Greece, the United Arab Emirates, Qatar, Lebanon and now in Saudi Arabia.