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Reada acquires 22.5% of ADEA Risk
The Saudi Reinsurance Company (Reinsurance) has completed its acquisition of a 22.5% strategic stake in Ade Risk Holdings Limited, a UK-based company headquartered in the United Kingdom, at a total value of approximately £8.95 million. This acquisition provides the Saudi company with opportunities to strengthen its presence in Lloyd's London market, one of the world's leading insurance and reinsurance markets, and to benefit from the technical expertise and infrastructure it offers. The transaction was executed following the necessary regulatory approvals, including the non-objection of the Insurance Authority, and according to the announced schedule, without any additional costs or financial impacts resulting from the delay, as part of its diversification strategy and efforts to enhance international investments.
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