An Abu Dhabi Investment Authority subsidiary sold a 50% stake in UK-based home and car ins. provider Policy Expert to European private equity firm Cinven, through its Strategic Financials Fund, according to a statement. No financial details were disclosed.

Background: Adia had bought a majority stake in the ins. provider this past November, after having been a minority shareholder since 2020. The fund owned a 75% stake through its subsidiary in Policy Expert’s holding company QMetric, according to a recent filing on Companies House cited by Insuranceage. This would put the size of Adia’s current stake in the company at around 25%.

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