AOG completes $10m preference share buyback

American Overseas Group (AOG) has completed a private repurchase of $10 million liquidation value of its series A preference shares from an undisclosed holder.

Post liquidation, AOG will have $3.6 million liquidation value of its series A preference shares outstanding.

AOG is an insurance holding company incorporated in Bermuda and a tax resident of the UK. Its operating subsidiary, American Overseas Reinsurance Company, historically wrote financial guaranty reinsurance for US and international public finance and structured finance transactions, and is now in run-off.