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Saudi Reinsurance Company (Saudi Re) will acquire a 22.5% equity stake in the UK’s Ada Risk Holding for 8.95 million British pounds ($12 million), after receiving approval from the kingdom’s insurance authority.
Saudi Re said the transaction will be financed through its own capital resources, with the acquisition supporting its expansion into international markets and accelerating growth.
The Saudi-listed firm said it is also looking to strengthen its presence in the Lloyd’s market, a UK-based insurance and reinsurance hub where Ada Risk operates Syndicate 2024, to develop specialised reinsurance solutions and diversify its underwriting portfolio.
The London-registered Ada Risk is a holding firm focused on underwriting, risk management, and the global aerospace and aviation insurance sector.
(Writing by Bindu Rai, editing by Daniel Luiz)
