Saudi’s Kingdom Holding Company (KHC) announced a 1.06 billion riyal investment in the Phoenix Group, one of the largest insurance, savings, and retirement companies in the United Kingdom.
KHC’s investment in the Phoenix Group is part of the investment program announced on June 23, 2022. The Saudi company’s stake was recently increased to 3.79 percent.
According to a statement on the Tadawul Group website, KHC’s investment is a continuation of the company‘s strategy of investing in firms that are market leaders in their field.
Last week, KHC announced a 1.01 billion Saudi riyal investment in the UK-listed M&G global insurance services and asset management company.
Pheonix, founded in 1782, is the largest savings and pension company as well as one of the largest insurance companies in the UK. The Group has over 310 billion British pounds in assets and over 240 years of experience serving over 13 million customers in the UK and Europe.
