Saudi Re to acquire 22.5% stake in UK-based AdA Risk Holding

SAUDI RE
8200 0.38% 26.76 0.10

Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) received a non-objection from the Insurance Authority on 13 July 2026 to proceed with the acquisition of a strategic 22.50% stake in AdA Risk Holding Company Limited.

The transaction, valued at GBP 8.95 million, will be executed on a fully diluted basis and funded through the company’s internal financial resources.

Based in the UK, AdA Risk Holding is the parent entity of AdA Underwriters Limited, which operates AdA Syndicate 2024 within the Lloyd’s of London market.

The syndicate specializes in marine and other specialty insurance lines. Saudi Re aims to leverage this acquisition to expand its international footprint and diversify its insurance portfolio by establishing a direct presence in the global Lloyd’s market.

The initial agreement for the stake was signed on 26 June. Completion remains subject to final share purchase procedures and remaining regulatory approvals.

Saudi Re expects the financial impact of the investment to appear in its financial statements starting from the third quarter (Q3) of 2026, with an anticipated increase in underwritten business volume from the Lloyd’s market beginning in 2027.

The group established its Audit Committee following the receipt of a non-objection letter from the Insurance Authority.

Source: Mubasher Source: {{details.article.source}}