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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