Up-for-sale Alea UK enters bid shortlist
Bermuda-based property and casualty reinsurer in run-off Alea Group has put its UK arm up for sale, with the process already entering the next stage of bidding, The Insurance Insider can reveal.
According to sources, "a very small number of bidders" have reached the second round of talks for Alea London - which had total liabilities of $451.2mn at 31 December 2008.
Alea Group is 72 percent owned by New York hedge fund Fortress Investment Group, which is showing signs...
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