trending Market Intelligence /marketintelligence/en/news-insights/trending/Q6whN_L74RmHsL2o6vx0GQ2 content esgSubNav
In This List

Saudi Re completes acquisition of stake in Bermuda-based Probitas Holdings

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Saudi Re completes acquisition of stake in Bermuda-based Probitas Holdings

Saudi Re for Cooperative Reinsurance Co. said Oct. 8 that it completed the acquisition of 49.9% of the ordinary shares of Probitas Holdings (Bermuda) Ltd.

The Saudi company signed a memorandum of understanding in July to acquire the stake in Probitas Holdings for an initial consideration of $25 million. In September, it received approval from the Lloyd's of London insurance market in the U.K. and clearance from the Saudi Arabian Monetary Authority to conclude the transaction.