Catalina Holdings (Bermuda) Ltd, the long term consolidator in the non-life run-off sector, announced that, “following regulatory approvals received in Bermuda, Switzerland, Ireland, the US and the UK, funds and other entities (the ‘Apollo Investors’),” managed or advised by Apollo Global Management, LLC, together with its consolidated subsidiaries “have completed the acquisition of the shareholdings of the RBS Special Opportunities Fund and Century Capital in Catalina.”
The Apollo Investors together with Catalina’s other institutional shareholders, Caisse de dépôt et placement du Quebec and Ontario Teachers’ Pension Plan, have committed a combined $200 million of new equity to support Catalina’s continued growth, as previously announced.
Chairman and CEO Chris Fagan commented: “The close of Apollo’s acquisition and the additional $200 million of committed capital positions Catalina well for continued growth. We are seeing a material increase in the number of acquisition and portfolio transfer opportunities and our new capital commitment is well timed to meet them.
“Catalina was very active in 2013. We have made eleven acquisitions since 2005 across Bermuda, Europe and the US and now have total assets in excess of $2 billion.”
Source: Catalina Holdings (Bermuda) Ltd
Was this article valuable?
Here are more articles you may enjoy.
Three New HO Carriers and an Improving Condo Market in Florida, Reports Show 
US P/C Insurers Post Biggest Q1 Underwriting Profit in 25 Years 
Viewpoint: AI Insurance Is Not Cyber Insurance With Extra Steps 
Half of Pilots Killed in US Accidents Tested Positive for Drugs 
