Saudi Re earns gains of 5 times on initial investment in Probitas Holdings

By MEIR team | 07 Mar 2024

Saudi Re, the kingdom's locally-incorporated reinsurer, has announced an agreement with UK-headquartered insurance company Aviva Insurance to sell the former's entire 49.9% stake in Probitas Holdings (Bermuda) including subsidiaries, for a consideration of GBP120m ($152m) subject to final closing adjustments.

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