Saudi Re shareholders to vote on SAR 128M contracts with Probitas on May 12

21/04/2024 Argaam

Saudi Re shareholders to vote on SAR 128M contracts with Probitas on May 12

Logo of Saudi Reinsurance Co. (Saudi Re)

Saudi Reinsurance Co. (Saudi Re) shareholders will vote on the contracts to be concluded between the company and Probitas Corporate Capital Ltd, during an ordinary general assembly meeting, to be held on May 12, the company said in a statement to Tadawul.

 

There is indirect interest in those contracts, as Chairman Abdulatif Al-Fozan is a board member in Probitas Holding (Bermuda) Ltd, the company added.

 

These are reinsurance contracts without preferential treatment, said the company, noting that the value of transactions during the financial year ending December 31, 2023 is about SAR 128 million.

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