Takaful News - Saudi Arabia: Saudi Re Names SHB as IPO Adviser
Source: Middle East Insurance Review | Mar 2007
Saudi Reinsurance Company (Saudi Re), the first reinsurance company to be established in the kingdom, has appointed the Saudi Hollandi Bank as financial advisor and arranger for its initial public offering (IPO), which is likely to take place in the second quarter of this year.
Saudi Re will offer Shariah-compliant and traditional life and non-life reinsurance services in most lines of businesses, including but not limited to fire, construction, marine cargo, marine hull, and general accidents.