SAMA has approved Probitas 1492 takeover by Saudi Re

Saudi Arabia Monetary Agency, SAMA, and Lloyd’s have approved the takeover of 49.9% of Probitas 1492 capital by reinsurer Saudi Re.

The acquisition of this majority stake, previously detained by Istmo Re Group, will enable the Saudi reinsurer to develop its portfolio in various markets located in Europe, Africa, Asia, Latin America, United Kingdom and Canada.

Probitas 1492 is a Lloyd’s syndicate specialized non life insurance and reinsurance.

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