| Element List | Explanation |
|---|---|
| Transaction Details | Saudi Reinsurance Company "Saudi Re" announces the receipt of the Insurance Authority's non-objection on 13/07/2026, to acquire a 22.5% equity stake (on a fully diluted basis) in AdA Risk Holding Co Limited, a company incorporated in the United Kingdom that operates Syndicate 2024 at Lloyd's of London. |
| Transaction Amount | GBP 8,950,000. |
| Transaction Conditions | The transaction includes the terms, conditions, and warranties provided by each party in accordance with market practice, and the completion of the transaction is subject to the successful completion of the related buyback transaction and obtaining all relevant regulatory approvals. |
| Parties of the Transaction | 1- Saudi Reinsurance Company "Saudi Re" (Investor). 2- AdA Risk Holding Co Limited (Seller). |
| Transaction Financing Method | The Acquisition will be financed from the Company's own financial resources. |
| Date of Entering Into The Transaction | 2026-06-26 Corresponding to 1448-01-11 |
| Description of Activity of The Asset Subject of The Transaction | AdA Risk Holding Co Limited, a company incorporated and registered in England and Wales, is the holding company of AdA Underwriters Limited, which operates AdA Syndicate 2024, an independent marine and specialty syndicate at Lloyd`s of London. |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | The Company information and the company`s subsidiaries information is available through the following links. - AdA Risk Holding Co Limited: https://find-and-update.company-information.service.gov.uk/company/14975674/filing-history - AdA Underwriters Limited: https://find-and-update.company-information.service.gov.uk/company/14706897/filing-history - AdA Syndicate 2024: https://www.lloyds.com/about-lloyds/investor-relations/syndicate-reports-and-accounts/2024-2024 |
| Transaction reasons | The acquisition supports the Company's strategy to expand its international operations and accelerate its global growth by strengthening its presence in the Lloyd's market, one of the world's leading insurance and reinsurance hubs. It will also enhance the Company's ability to develop specialized reinsurance solutions, diversify its underwriting portfolio, and leverage the expertise, market access, and capabilities available within the Lloyd's market, ultimately delivering sustainable long-term value to both its shareholders and clients. |
| Expected Impact of the Transaction on the Company and Its Operations | The transaction value and company`s share of AdA's financial results shall be reflected in Saudi Re financial statements in the third quarter 2026. The transaction is also expected to increase the Company's business written through the Lloyd's market from 2027, with the positive effect on the upcoming years. |
| Related Parties | None |
| Additional Information | None |
Saudi Reinsurance Company "Saudi Re" announces receipt of the Insurance Authority's Non-Objection to acquire a strategic equity stake in AdA Risk Holding Limited.
AI Summary
- Saudi Reinsurance Company (Saudi Re) received non-objection from the Insurance Authority on July 13, 2026, to acquire a 22.5% equity stake in UK-based AdA Risk Holding Co Limited.
- The transaction is valued at GBP 8,950,000 and will be financed through the company's internal financial resources.
- AdA Risk Holding operates Syndicate 2024 at Lloyd's of London, and the acquisition is intended to expand Saudi Re's international operations and presence in the Lloyd's market.
- Financial results are expected to be reflected in Saudi Re’s statements starting in Q3 2026, with increased business volume projected from 2027 onwards.
