Saudi Re renews GBP 33.5M contract with Probitas Corporate Capital

28/10/2024 Argaam

Saudi Re renews GBP 33.5M contract with Probitas Corporate Capital

Logo of Saudi Reinsurance Co. (Saudi Re)

Saudi Reinsurance Co. (Saudi Re) renewed a GBP 33.5 million reinsurance contract with Probitas Corporate Capital Ltd.

 

The one-year deal is valid starting from Jan. 1, 2025, said the company in a Tadawul filing today, Oct. 28.

 

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The contract, which entails no related parties, is poised to have an impact on its financial results starting from the first quarter of 2025, it noted.

 

According to data available to Argaam, Saudi Re signed last March reinsurance contracts with Probitas Corporate Capital, a related party, running for one year at an estimated gross written premiums (GWPs) value of SAR 135.03 million.

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