“We have the people, platforms and capabilities to continue our leadership in the industry.”
RenaissanceRe to Acquire Minority Shareholding in Catalina
PEMBROKE,
The transaction will see
RenaissanceRe’s investment will provide strategic benefits to Catalina and help the business to explore a wider range of transaction structures as it continues to execute its growth strategy that has seen the business grow steadily and consistently over many years.
“Together with Apollo, our new shareholders provide us with access to additional expertise and substantial financial resources that will help us to take advantage of the vast array of legacy market opportunities we continue to see, driving our business through the next phase of its growth, and strengthening our position as one of the legacy market’s leading consolidators.”
Since being founded in 2005, Catalina has completed 24 transactions acquiring
About
Catalina is a long-term consolidator in the non-life insurance/reinsurance run-off sector. Catalina was established in 2005 to focus solely on the acquisition and management of non-life insurance/reinsurance liabilities in run-off. Since its foundation, Catalina has acquired or reinsured
About
All statements other than present and historical facts and conditions contained in this press release, including any statements regarding any future results of operations and financial positions, business strategy, plans and any objectives for future operations, are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are only predictions and reflect the applicable party’s current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180118006374/en/
Source:
Catalina
Instinctif Partners
Nick Woods, +44 (0)20 7457 2020
nick.woods@instinctif.com
or
Ross Gillam, +44 (0)20 7457 2020
ross.gillam@instinctif.com
or
RenaissanceRe
Investors:
RenaissanceRe Holdings Ltd.
Keith McCue, 441-239-4830
Senior Vice President, Finance & Investor Relations
or
Media:
RenaissanceRe Holdings Ltd.
Elizabeth Tillman, 212-238-9224
Director – Communications
or
Kekst and Company
Peter Hill or Dawn Dover, 212-521-4800