Saudi Re to take a strategic minority stake in AdA in support of the Company’s targeted growth strategy London and Riyadh — [July 14, 2026] — AdA Risk Holding Co Limited (“AdA”) today announced a strategic minority investment from Saudi Reinsurance Company (“Saudi Re”). The new partnership represents a natural development in AdA and Saudi Re’s established relationship. The transaction represents a significant milestone in AdA’s journey, with the introduction of a high-quality, long-term strategic partner. The transaction positions AdA further to establish itself as a differentiated, high-quality specialty underwriting platform within the Lloyd’s market. “We are delighted to welcome Saudi Re as a strategic partner, a business with whom we have worked closely since AdA was first established in 2023. This partnership will be instrumental as we continue to expand our underwriting platform and execute on our long-term strategy at Lloyd’s”, said Natasha Jodrell, CEO of AdA. “Partnering with AdA marks an exciting new chapter for Saudi Re. As a differentiated specialty Lloyd’s underwriting platform led by an experienced and results-driven management team, AdA is primed for a strong future. This strategic investment builds upon our past success and strengthens Saudi Re’s foothold in the Lloyd’s market. Furthermore, it drives our global growth strategy forward and aligns with our goals to diversify our portfolio and develop specialty reinsurance solutions, creating value for its shareholders and clients.”, said Ahmed Al-Jabr, CEO of Saudi Re. Howden Capital Markets & Advisory acted as exclusive financial advisor to AdA. Clyde & Co. acted as legal advisor to AdA. Saudi Re was advised by PwC and Willkie Farr & Gallagher. ABOUT ADA: AdA is a London-based specialty underwriting business focused on delivering disciplined, high-quality underwriting across Energy, Marine, Cargo, Specie, and Aviation classes. Founded in 2023 by Natasha Jodrell, James Grainger, and Paddy Riordan, the business was established with the ambition of building a leading specialty Syndicate within Lloyd’s. AdA initially launched via a Special Purpose Arrangement (“SPA”) hosted by Probitas Managing Agency for the 2024 Year of Account, subsequently transitioning to a full syndicate following Lloyd’s approval for the 2026 Year of Account. The business is led by an experienced management team with deep sector expertise. AdA has rapidly established a strong market position, underpinned by disciplined underwriting and a focused portfolio strategy. For information visit https://ada-uw.com/. ABOUT SAUDI RE: Saudi Re is a Public Investment Fund portfolio company listed on the Saudi Exchange with a paid-up capital of SAR 1.7 billion. The Company is among the leading reinsurance providers in the MENA region. Established in 2008 as a composite reinsurer, Saudi Re offers a wide range of treaty and facultative reinsurance solutions, The Company holds an S&P A- rating with a Positive Outlook and a Moody’s A2 rating with a Stable Outlook. Saudi Re operates in more than 40 markets across the Middle East, Asia, and Africa through its headquarters in Riyadh and its branches in Malaysia and India. The Company is regulated by the Saudi Arabian Insurance Authority.

Saudi Reinsurance Company “Saudi Re” reported a net profit after Zakat of SAR 46.7 million in the first quarter of 2026, representing a 32% increase compared to SAR 35.4 million in the corresponding period of the previous year. The first quarter results were driven by resilient underwriting and positive investment returns. Insurance revenue in Q1 2026 recorded a significant 73% year-on-year increase, reaching SAR 560 million. Continued expansion across various lines of business in Saudi Arabia and international markets supported this growth. Gross Written Premiums in Q1 2026 jumped by 37% to SAR 2.38 billion, up from SAR 1.74 billion in the same period last year.   Commenting on the results, Saudi Re CEO Ahmed Al-Jabr, stated: “The strong results achieved in the first quarter reflect Saudi Re’s disciplined underwriting approach and prudent investment strategy. Saudi Re has maintained its balanced business model, focusing on improving net income while expanding the scope of its operations.” He added: “We are progressing toward our strategic goals, backed by the strength of our financial position and our increasingly competitive market standing, ensuring our resilience and sustainability of our performance.”       About Saudi Re: Saudi Reinsurance Company “Saudi Re”, a Public Investment Fund portfolio company, is listed on the Saudi Exchange. The company has the largest paid-up capital in MENA, standing at SAR 1.7 billion (US$453 million). Saudi Re is rated ‘A-’ by S&P with a positive outlook, and A2 by Moody’s, reflecting its strong financial standing. The company operates in more than 40 markets across the Middle East, Asia, and Africa. Regulated by the Saudi Arabian Insurance Authority, Saudi Re conducts its operations from its headquarters in Riyadh and branches in Malaysia and India.    

Saudi Reinsurance Company (Saudi Re) has maintained its Insurance Financial Strength Rating (IFRS) at A2 with a Stable Outlook, announced Moody’s Ratings (Moody’s) following its periodic review completed in April 2026. According to Moody’s, Saudi Re’s A2 IFSR reflects its established brand and market position in Saudi Arabia as the Kingdom’s first home-grown professional reinsurer, alongside a growing presence across the Middle East, Asia, and Africa. The rating also factors in the company’s preferential position in the domestic market through its right of first refusal on a portion of ceded premiums. Moody’s further highlighted Saudi Re’s high-quality asset underpinned by a conservative investment portfolio as evidenced by a low ratio of high-risk assets. The rating also reflects Saudi Re’s good capital adequacy, with loss gross underwriting leverage of 1.3x at year-end 2025 and limited natural catastrophe exposure supported by adopting extensive retrocession programs. The agency also noted Saudi Re’s consistent good profitability, and strong financial flexibility with no debt leverage and good access to local capital markets given its listing on the Saudi Stock Exchange and broad investor base. Commenting on the announcement, Saudi Re CEO Ahmed Al-Jabr, said: “Maintaining our A2 rating reflects the credit worthiness and resilience of Saudi Re’s business model and the strength of the partnerships that Saudi Re has firmly established. It also reinforces the confidence of shareholders, clients and regulators in the company’s ability to meet its obligations, and further strengths Saudi Re’s strategic direction toward achieving its future objectives. Preserving this distinguished rating is particularly significant considering the geopolitical conditions currently affecting the region and underscores our ability to navigate uncertainty while pursuing long-term growth opportunities.”   Further supporting its financial standing, Saudi Re holds an ‘A-’ long-term issuer credit rating and insurer financial strength rating with a Positive Outlook from S&P Global Ratings, reflecting the company’s improving financial performance indicators. The agency highlighted Saudi Re’s robust risk-based capital adequacy a key rating strength, assessed at the ‘AAA’ benchmark in S&P capital model. S&P also commended Saudi Re for maintaining its superior underwriting performance, outperforming many of its regional and international peers. Saudi Reinsurance Company “Saudi Re”, a Public Investment Fund portfolio company, is listed on the Saudi Exchange and ranks among the leading reinsurance companies in the region. With a capital of SAR 1.7 billion (US$453 million), the company operates in more than 40 markets across the Middle East, Asia, and Africa. Saudi Re is regulated by the Saudi Arabian Insurance Authority and conducts its operations through its headquarters in Riyadh and branches in Malaysia and India.