8 October 2015 News

Catalina acquires Allianz Suisse Re

Bermuda-based run-off specialist Catalina has agreed to acquire Allianz Suisse Re, a subsidiary of Allianz.

Allianz Suisse Re is a Swiss regulated reinsurer incorporated in 2007 with the aim of running off an international reinsurance portfolio that was formerly underwritten by Allianz Suisse Versicherungs AG.

The transaction was made through Catalina’s wholly-owned Swiss subsidiary Glacier Reinsurance. It is expected to close in the fourth quarter of this year, is subject to approval by FINMA, the Swiss financial regulator.

This is Catalina’s fourth transaction in Switzerland and eighteenth since the business was established in 2005.

Chris Fagan, chairman and chief executive of Catalina, said: “We are very pleased to have reached agreement with Allianz on this transaction. It adds diversification to our growing business in Switzerland, and demonstrates our continued ability to provide solutions for legacy liabilities in Europe.”

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk