Barbados-based Imagine Reinsurance Holdings Ltd., a subsidiary of the Imagine Group, announced that another subsidiary, Imagine Insurance Co. Ltd., has acquired Enterprise Reinsurance Holdings Corp. and its subsidiaries for an undisclosed price.
Imagine Re, which was established last October, is the reinsurance arm of the Imagine Group, which is 100 percent owned by the Canadian financial services group Trilon Financial Corp.
The acquisition of Enterprise Re, with a “consolidated shareholders equity exceeding $100 million,” significantly strengthens its presence in the global reinsurance market.
George Cleadall, Chairman of Imagine Insurance Co. stated: “This transaction is a building block in the development of our group. Following completion of the transaction, the group will have offices in Barbados, Bermuda, New York, Dublin, Copenhagen, Basel and St. Louis.”
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