GEROVA Financial Group, Ltd announced that shareholders at the extraordinary general meeting (EGM) held on August 30, 2010, approved the redomiciliation of the company from the Cayman Islands to Bermuda.
GEROVA also announced that its Bermuda reinsurance subsidiary, GEROVA Reinsurance Ltd, has received its Certificate of Registration as a Long-Term Insurer from the Bermuda Monetary Authority.
GEROVA established its group headquarters offices in Cumberland House, in the central business district of Hamilton, Bermuda, in May of this year.
“We are excited for our group parent to become a Bermuda company,” said Lou Hensley, CEO of GEROVA Re. “We believe that Bermuda is one of the world’s leading reinsurance centers, and is an attractive location in which to be based. Bermuda has strong international relationships, a long history of international investment, particularly in the areas of insurance, reinsurance and investment funds, and long-established commercial relationships, trade agreements and tax treaties with the United States and other countries around the world.”