Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) approved Saudi Re for Cooperative Reinsurance Co.’s acquisition of a 49.9% stake of ordinary shares in Probitas Holdings (Bermuda) Limited (PHBL).
The Saudi insurance firm stated previously that it had obtained the approval from London-based Lloyd's to purchase 49.9% of Bermuda’s ordinary shares.
By 11:28 am KSA time, Saudi Re’s stock grew 2.45% to SAR 7.11 on the Saudi Stock Exchange (Tadawul).
