Probitas-Saudi Re deal gets green light from regulators

Probitas has confirmed the completion of its transaction with Saudi
Re, following the receipt of regulatory approval from both
Lloyd's and the Saudi Arabian Monetary Authority.
Saudi Re is to take a 49.9 percent holding in Probitas Holdings,
a newly structured Bermuda-based holding company which sits above
Probitas Corporate Capital Limited, Probitas 1492 Services Limited
and Probitas Holdings (UK) Limited.
The remaining 50.1 percent is owned by the management team of
Probitas, including CEO Ash