Caisse and OTPP-backed Catalina to buy Hartford insurance subs
The Hartford has agreed to sell its U.K. property and casualty run-off subsidiaries, Downlands Liability Management Ltd and Hartford Financial Products International Ltd, to an affiliate of Catalina Holdings (Bermuda) Ltd. No financial terms were released for the deal, which is expected to close in the fourth quarter. Catalina, an acquirer and manager of non-life insurance-reinsurance companies in run-off, is backed by Apollo Global Management, Caisse de dépôt et placement du Québec and Ontario Teachers’ Pension Plan (OTPP). Earlier this year, the Hamilton, Bermuda-based company agreed to buy AGF Insurance Ltd.
26 July 2016•4 mins read
