Catalina completes Delta Lloyd deal

Bermuda-based run-off specialist Catalina Holdings has completed its reinsurance transaction with Delta Lloyd.

Catalina has obtained approval from the Swiss Financial Market Supervisory Authority for the transaction which reinsures the marine insurance liabilities in run-off of Delta Lloyd Group.

The assets, which are in excess of $200 million, will be reinsured by Catalina’s wholly owned Swiss subsidiary, Glacier Reinsurance AG.

Catalina’s total assets for this transaction and the recently announced acquisition of Sparta will be in excess of $3.1 billion, the company says.