ACH Achp

 

TIDMTAW 
 
RNS Number : 9101U 
Tawa PLC 
25 October 2010 
 

 
 
                                    Tawa plc 
 
                    Completion of Island Capital acquisition 
 
Tawa plc ("Tawa" or the "Group") the quoted insurance service provider and 
run-off investor, today announces that following regulatory approvals from the 
Bermuda Monetary Authority and the FSA, it has completed its acquisition of 
94.3% of the issued shares of Island Capital Ltd and its wholly-owned UK 
subsidiary, Island Capital (Europe) Ltd as announced on 20 August 2010. 
 
 
Enquiries: 
 
+--------------------------------------------+---------------+ 
| Gilles Erulin, Chief Executive, Tawa plc   | 020 7068 8000 | 
|                                            |               | 
+--------------------------------------------+---------------+ 
| Peter Rigby, Haggie Financial              | 020 7417 8989 | 
|                                            |               | 
+--------------------------------------------+---------------+ 
| Guy Wiehahn, KBC Peel Hunt (nominated      | 020 7418 8900 | 
| adviser and broker)                        |               | 
+--------------------------------------------+---------------+ 
 
 
Notes for Editors: 
 
Tawa plc was formed in 2001 with the purpose of acquiring or developing assets 
and business in the insurance industry. Tawa is an acquirer of run-off 
portfolios of insurance and reinsurance companies, companies and businesses 
providing services to the run-off industry and a developer of its own products 
to serve the insurance market as a whole such as STRIPE . 
 
By creating a diversified portfolio of businesses at different stages of the 
run-off process and in the servicing business Tawa is a consolidator of this 
specific market in the UK, US, continental Europe, Bermuda, and elsewhere as 
opportunities arise. 
 
Since its formation, Tawa has acquired CX Reinsurance Company Limited, KX 
Reinsurance Company Limited, PXRE Reinsurance Company, the PRO group of 
companies and now Island Capital Limited. 
 
The combined Tawa/PRO team of over 300 professionals service a number of the 
largest insurance businesses in the UK and Europe and deliver a market-wide, 
third-party insurance servicing capability as PRO services active underwriters 
as well as run-offs and covers London's company and Lloyd's markets as well as 
Europe and the USA. 
 
Tawa also operates as an incubator for new projects and has recently launched 
STRIPE , a new claims and post-placement transactions processing platform. 
 
 Further information can be found on the Company's website: www.tawaplc.co.uk 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQEAXEAADLEFFF 
 

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