Saudi Arabia - Kingdom Holding Company (KHC) has announced an investment of SR1.063 billion ($282.99 million) in the Phoenix Group, one of the largest insurance, savings and retirement companies in the United Kingdom.

The investment was part of an investment programme that was announced on June 23, 2022, and the stake was recently increased to 3.79%. This investment is a continuation of KHC's strategy to invest in blue-chip companies that are considered market leaders in their field, said a statement.

Founded in 1782, Phoenix is the largest savings and pension company and one of the largest insurance companies in the UK. The Phoenix Group serves more than 13 million customers, with over £310 billion and over 240 years of experience in the UK and Europe.

Kingdom Holding Company is a global investment company with assets of more than SR50 billion invested across 18 sectors.

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