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Saudi Re to sell its stake in Probitas to Aviva

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Magazine Issue: 
The insurance industry up against the risks of the future [3]
Magazine date: 
Mar 2024

saudi reSaudi Re [4] has decided to sell its 49.9% stake in Probitas Holdings (Bermuda) to Aviva. The transaction is valued at 120 million GBP (154.2 million USD).

Aviva will become the sole shareholder of Probitas Holdings after acquiring all of the company's shares for 242 million GBP (311.1 million USD). The deal includes Probitas' integrated Lloyd's platform and Lloyd's Syndicate [5] Probitas 1492.

Pending regulatory approval, the transaction is expected to be finalized in mid-2024.

Mon, 11/03/2024 - 14:12

Source URL: https://www.atlas-mag.net/en/category/pays/bermudes/saudi-re-to-sell-its-stake-in-probitas-to-aviva

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-209-march-2023
[4] https://www.atlas-mag.net/en/article/saudi-re
[5] https://www.atlas-mag.net/en/article/ranking-of-top-20-lloyd-s-syndicates-in-2017