4 free views left View membership plans

Insurance, Reinsurance & Takaful · IRT Musrefy Award 2026

Reinsurance Leadership Award

Honours efficiency in managing risk, providing protection and supporting insurance markets.

Apply

How this award is scored

Evaluation
100% automatic, from the data and evidence you submit
Minimum score to win
70 / 100
Measurement period
The full financial year 2025 (or the latest financial year completed before nominations open); growth is measured against financial year 2024

Who can apply

  • A licensed reinsurer or retakaful operator
  • Operating for at least 3 years before the start of the measurement period
  • Audited financial statements for the measurement period with an unqualified opinion from an independent external auditor
  • Regulatory solvency requirements met throughout the measurement period

Indicators and weights

  1. Net combined ratio

    Incurred claims plus expenses divided by net earned premium for non-life reinsurance business (or the IFRS 17 equivalent)

    25%

    Points

    • ≥ 100 % 15
    • 95 – < 100 % 50
    • 90 – < 95 % 80
    • 0 – < 90 % 100

    Evidence

    Audited financial statements with the technical note

  2. Financial strength rating

    Highest financial strength rating valid at year end from S&P, AM Best, Fitch or Moody’s

    15%

    Points

    • A- or above (or equivalent)100
    • BBB- to BBB+ (or B++ at AM Best)65
    • Below investment grade25
    • Unrated10

    Evidence

    Rating report or the agency’s press release

  3. Solvency ratio

    Available capital as a percentage of the regulatory capital requirement at year end

    15%

    Points

    • ≥ 250 % 100
    • 200 – < 250 % 85
    • 150 – < 200 % 60
    • 100 – < 150 % 30

    Evidence

    Regulatory solvency return or the capital management note

  4. Geographic diversification

    Share of gross written premium from outside the home country

    15%

    Points

    • 60 – < 100 % 100
    • 40 – < 60 % 80
    • 20 – < 40 % 50
    • 0 – < 20 % 20

    Evidence

    Geographic information note in the audited financial statements

  5. Payment speed to cedants

    Average days from receiving an agreed statement of account or cash call from a cedant to payment

    15%

    Points

    • ≥ 60 days 10
    • 30 – < 60 days 40
    • 15 – < 30 days 70
    • 0 – < 15 days 100

    Evidence

    Reinsurance system report with receipt and payment dates

  6. Prior-year reserve development

    Run-off result on prior-year claims reserves during the year as a percentage of opening reserves (positive means a surplus, negative a deficiency)

    15%

    Points

    • 3 – < 100 % 100
    • 0 – < 3 % 75
    • -5 – < 0 % 40
    • -100 – < -5 % 10

    Evidence

    Claims development table in the financial statements or the appointed actuary’s report

Each indicator gives 0 to 100 points; its share of the total is its weight. Ties are decided by the indicators listed first in the scorecard; payment or package never affects the score.

Cycle timeline

  1. Done

    Nominations open

  2. Upcoming

    Nominations close

  3. Upcoming

    Judging starts

  4. Upcoming

    Judging ends

  5. Upcoming

    Results announced

Times are in Asia/Riyadh (UTC+03:00).

Results

Results are announced only after final approval.

Finalists and winners will appear here once the results have been approved and published.