Caisse and OTPP-backed Catalina Holdings to buy AGF Insurance
An affiliate of Catalina Holdings (Bermuda) Ltd has agreed to acquire AGF Insurance Ltd, a British regulated insurance business, from European financial services provider Allianz SE. No financial terms were released for the deal, which is expected to close in the third quarter. Catalina, a buyer and manager of non-life insurance and reinsurance companies and portfolios in run-off, said the deal is its first significant acquisition of U.K. employers liability legacy risk. Based in Hamilton, Bermuda, Catalina is a portfolio investment of Apollo Global Management, Caisse de dépôt et placement du Québec and Ontario Teachers’ Pension Plan (OTPP).
30 March 2016•3 mins read
