ScRe Completes Acquisition of Stake in AdA Risk Holding

Logo of Saudi Reinsurance Company - ScRe

Saudi Reinsurance Company - ScRe announced the completion of the acquisition of a 22.5% stake on a fully diluted basis in AdA Risk Holding Co Limited.

The company stated in a statement on Tadawul that it has completed the acquisition, noting that the company is based in the United Kingdom and owns the right to operate Syndicate 2024 in the Lloyd's market.

According to data available on Argaam, ScRe had recently received no objection from the Insurance Authority to acquire a 22.5% stake on a fully diluted basis in AdA Risk Holding Co Limited, for GBP 8.95 million (equivalent to SAR 45.14 million).

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