Spinneys raises Saudi stake to 70%, Desaisiv launches AI ins. agent, Riyadh Air adds Kuala Lumpur

Dubai-based grocery retailer Spinneys has agreed to acquire an additional 20% of its Saudi subsidiary from Al Hokair Holding Group for SAR 18 mn, taking its holding to 70% from 50%, according to a press release (pdf). The transaction still needs regulatory clearance.

Insurtech Desaisiv opens USD 8 mn growth funding round

Saudi insurtech Desaisiv is raising USD 8 mn in a growth funding round to automate how Saudi companies buy and manage ins. through an AI platform, according to a press release. No investors have been named, and the round is still open.

About the company: Founded in 2023 by Mohammad Nabhan (LinkedIn) and Saed Khawaldeh (LinkedIn), Desaisiv manages a corporate ins. portfolio exceeding SAR 2 bn, using AI and automation to benchmark pricing, evaluate policy performance, and negotiate premiums.

What’s next: Desaisiv is targeting SAR 10 bn in premiums processed as it moves beyond corporate health into motor, leasing, and general ins.

Riyadh Air adds Kuala Lumpur to its destinations

Riyadh Air has begun direct flights to Kuala Lumpur, marking its debut in Southeast Asia, according to a press release. The airline will operate three direct flights a week between the two cities.

REMEMBER- The PIF-backed carrier has been expanding quickly, adding routes including Madrid, Cairo, Dubai, Malaga, and more since June. It has also ordered 34 Airbus and Boeing widebody aircraft as it targets a network of more than 100 destinations by 2030.