Catalina buys Tawa run-off assets for $28mn
Tawa has continued to divest non-core portfolios with an
agreement to sell two of its run-off subsidiaries to the
acquisitive Bermudian Catalina for $28mn, while still pursuing a
full sale of the business.
Catalina will acquire 100 percent of the shares of Tawa subsidiary
KX Re and its wholly owned subsidiary OX Re, which together had
consolidated assets of $114mn at 31 March this year and
undiscounted gross liabilities of $69mn.
KX Re is one of Tawa's more mature run-off...
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