The deal comes as part of Saudi Re’s plan to expand its international operations
Saudi Reinsurance Co. completed the acquisition of a 22.5% stake, on a fully diluted basis, in UK-based AdA Risk Holding Co., according to a statement to Tadawul. 
AdA Risk Holding owns the managing rights of Syndicate 2024 at Lloyd’s of London.
According to data available on Argaam, the insurer received on July 13 the Insurance Authority’s (IA) no-objection on the transaction, for SAR 45.14 million (GBP 8.95 million).
The deal comes as part of Saudi Re’s plan to expand its international operations
Saudi Reinsurance Co. completed the acquisition of a 22.5% stake, on a fully diluted basis, in UK-based AdA Risk Holding Co., according to a statement to Tadawul.
AdA Risk Holding owns the managing rights of Syndicate 2024 at Lloyd’s of London.
According to data available on Argaam, the insurer received on July 13 the Insurance Authority’s (IA) no-objection on the transaction, for SAR 45.14 million (GBP 8.95 million).
