Day: 3 January 2024

Saudi Reinsurance Company “Saudi Re” announces the sale of its shareholding in Probitas for GBP 120 million, to focus on other growth opportunities

Saudi Re announces an agreement with UK-headquartered insurance company Aviva Insurance Limited or the sale of Saudi Re’s entire 49.9% stake in Probitas Holdings (Bermuda) Limited including its subsidiaries, for a consideration of GBP 120 million subject to final closing adjustments. Commenting on the transaction, Fahad Al-Hesni, Managing Director and CEO of Saudi Re, said […]

Saudi Reinsurance Company’s Board Of Directors calls its shareholders to attend the Extraordinary General Assembly …Meeting which includes the increase of the Company’s capital (First meeting)

Introduction The Board of Directors of Saudi Reinsurance Company “Saudi Re” (the “Company“) is pleased to invite its honorable shareholders to participate and vote in the Extraordinary General Assembly Meeting (first meeting) which will be held virtually through means of modern technology scheduled at 7 PM on Tuesday 23/06/1446H (corresponding to 24/12/2024G). City and Location […]

Saudi Reinsurance Company announces the publication of the share issuance with suspension of preemptive rights prospectus

With reference to the approval of the Capital Market Authority on 23/05/1446H (corresponding to 25/11/2024G) of the capital increase of Saudi Reinsurance Company (the “Company“) by issuing shares with suspension of preemptive rights, whereby the capital will increase from 891,000,000 Saudi Riyals to 1,158,300,000 Saudi Riyals through offering 26,730,000 new ordinary shares with a nominal […]