Catalina Holdings completes acquisition of AGF

Catalina Holdings UK has completed its acquisition of AGF Insurance (AGF) from Allianz subsidiary AGF Holdings.

Catalina announced the acquisition in March 2016 and has now received approval for the deal from the Prudential Regulation Authority, the UK insurance regulator.

AGF is a UK regulated insurance company established 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. On December 31, 2015, AGF had total assets of £270 million, undiscounted gross reserves of £185 million and pro-forma shareholder equity of £79 million.