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Saudi Re for Cooperative Reinsurance Co.'s pre-tax profit grew 110% year over year to nearly 39 million Saudi Arabian riyals ($10.4 million) in 2017 due to a decrease in net incurred claims and increase in overseas business, Middle East Insurance Review reported. Net incurred claims declined 54% to SAR 419 million. "We have succeeded in increasing our business written, year over year, in the Asian market by 40%, the African market by 43%, and the Middle Eastern market by 21%," said Fahad Al-Hesni, chief executive of Saudi Re. Gross written premiums fell 4% to SAR 942 million in 2017.