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Saudi Re buys 22.5% stake in AdA Risk to expand at Lloyd’s

Saudi Re will pay £8.95 million for the 22.5% stake using its own financial resources, aiming to strengthen its Lloyd’s presence and grow specialty reinsurance solutions.

Reported · Written up by our desk · Reinsurance

Saudi Reinsurance Company, known as Saudi Re, has received approval from Saudi Arabia’s Insurance Authority to acquire a 22.5% equity stake in UK-based AdA Risk Holding Co Limited, the operator of AdA Syndicate at Lloyd’s.

The investment totals £8.95 million and will be funded from Saudi Re’s own financial resources. The company said the move is expected to support its international expansion plans by strengthening its presence at Lloyd’s, the world’s oldest insurance and reinsurance marketplace.

Saudi Re also said the partnership should improve its ability to develop specialized reinsurance solutions, diversify its underwriting portfolio, and use Lloyd’s market expertise, access, and capabilities to accelerate global growth.

AdA is described as a Lloyd’s and regional Marine and Specialty insurer, and it previously disclosed that Syndicate 2024 received permission to underwrite from Lloyd’s for the 2026 year of account after moving from an SPA to a full syndicate. Reinsurance News reported the transaction as a step in AdA’s strategy to expand at Lloyd’s, with both companies highlighting the established relationship since AdA’s launch in 2023.

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