Catalina Closes Acquisition Of AGF Insurance

October 12, 2016

Catalina Holdings [Bermuda] Ltd announces that its wholly owned subsidiary Catalina Holdings UK Limited has completed its acquisition of AGF Insurance Limited [AGF] from a subsidiary of Allianz SE, following approval from the Prudential Regulation Authority, the UK insurance regulator.

AGF is a UK regulated insurance company incorporated in 1960. It wrote predominantly direct Employers and Public liability insurance in the UK.

It ceased writing new business and went into run-off in 1999. At 31 December 2015 AGF had total assets of £270m [US$389m], undiscounted gross reserves of £185m [US$266m], and pro-forma shareholder equity of £79m [US$113m].

Catalina announced in March of this year that it had signed a definitive agreement to acquire AGF. Catalina has acquired AGF from available resources.

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