Lloyd's Probitas partners with Saudi Re
Lloyd’s syndicate Probitas 1492 said on July 31 that it signed a shareholder agreement with Saudi Re.
According to the statement, Saudi Re is taking a 49.9 percent stake in Probitas Holdings (Bermuda) Limited which will own 100 percent of Probitas Corporate Capital Limited, Probitas 1492 Services Limited and Probitas Holdings (UK) Limited.
This transaction will result in removing all Istmo Re Group’s interest in Probitas, including their small contribution to the 2017 Funds at Lloyd’s.
Final completion of the transaction is subject to certain conditions, the principal of which is regulatory approval from both Lloyd's and the Saudi Arabian Monetary Authority (SAMA).
Probitas specialises in property, construction and casualty insurance and reinsurance solutions.
Get the days re/insurance news - Sign up to our free daily email newsletters
Today’s stories
Hiscox pre-tax profit halves in H1 on foreign exchange hit
AI insurtech start-up Brolly raises £1m
Liberty enters equine and livestock markets with Markel hires
Economic growth to spur reinsurance demand in Asia: Fitch
Lloyd’s approves Dale SPA headed by Swiss Re hire
Sompo hires QBE analyst to head up credit, political and crisis division
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze