Catalina says more deals to follow HSBC acquisitions
Chris Fagan, the founding CEO of Bermuda-based run-off acquirer
Catalina, has predicted more transactions this year after
announcing the purchase of HSBC's Irish legacy (re)insurers
HSBC Reinsurance Ltd and HSBC Insurance (Ireland) Ltd.
The sale of the two entities- with total assets of $273mn - will
complete later this year subject to regulatory approval from the
Central Bank of Ireland.
The (re)insurers predominantly wrote creditor, property, travel and
motor business. HSBC Insurance (Ireland) Ltd was placed into
run-off in June...
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