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The Apollo-backed legacy player is close to a deal to take on past liabilities of $1.1bn third-party book.
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The former Aegis London finance director will join in September.
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Legacy deal talks with Maiden have stalled, leaving Catalina as a meaningful investor in a challenged business with a potentially highly volatile share price.
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The legacy carrier and consultancy SOBC Corp have jointly acquired the non-standard auto insurer in run-off.
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AIG and Carlyle aim to make legacy vehicle DSA Re a standalone entity in 12-18 months.
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The quarterly results reveal an underwriting deterioration at Atrium and StarStone.
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AIG’s move to manage its liabilities in-house means a potentially significant deal flow is now virtually off-limits for legacy acquirers.
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The parties have also entered into a strategic agreement with plans to build DSA Re into a standalone legacy acquirer. -
The Hartford, Travelers and Chubb were questioned about talc exposures this earnings season following a court ruling against Johnson & Johnson.
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Legacy carriers are lining up resources ready for the mass sell-off of continental European liabilities but obstacles to transactions remain.
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AmTrust has huge outstanding underwriting liabilities, and by forming a partnership with Enstar it has brought the industry’s best manager of claims and commutations to the table.
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Positivity reigns in legacy circles as deals are getting bigger, and are occurring more frequently.
