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Saudi Re purchases 50pct share in Bermuda investment group
(MENAFN) Saudi Reinsurance Co. proclaimed that it has reached a deal with Probitas Holdings (Bermuda) in order to buy 50 percent share in the firm.
Furthermore, this move from the Saudi insurer comes trailing its announcement in July about the signing of a stakeholder deal with the Bermuda-based PHBL.
The ownership structure of three subsidiaries of the firm will be Probitas Holdings (UK) Limited, Probitas Corp Capital Limited and Probitas 1492 Services Limited.
Furthermore, this move from the Saudi insurer comes trailing its announcement in July about the signing of a stakeholder deal with the Bermuda-based PHBL.
The ownership structure of three subsidiaries of the firm will be Probitas Holdings (UK) Limited, Probitas Corp Capital Limited and Probitas 1492 Services Limited.
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