Acquisition (3377Q)

TIDMTAW

RNS Number : 3377Q

Tawa PLC

17 October 2011

TAWA COMPLETES ACQUISITION OF US BASED LINCOLN GENERAL

LONDON

Tawa plc ("Tawa" or the "Group"), the quoted insurance investor, today announces that following regulatory approvals from the Pennsylvania Department of Insurance, it has completed its acquisition of 51% of the issued shares of US holding company, LGIC Holdings, LLC as announced on 7 April 2011.

----------ENDS-----------

Contact

Tawa plc

Gilles Erulin, Chief Executive 020 7068 8044

Kingsway Financial Services Inc.

William A. Hickey, Jr., Executive Vice President and Chief Operating Officer (847) 871-6416

Peel Hunt LLP (nominated adviser and broker)

James Britton; Guy Wiehahn - 020 7418 8900

FWD PR

Victoria Sisson; Alexandra Thompson - 020 7623 2368

 
  About Tawa Plc 
   Tawa plc was formed in 2001 with the purpose of acquiring 
   or developing assets and businesses in the insurance 
   industry. Tawa acquires portfolios of insurance and 
   reinsurance companies and businesses providing services 
   to the insurance industry and develops its own products 
   to serve the insurance market as a whole. 
   Tawa's service arm, Pro Insurance Solutions Ltd (Pro), 
   delivers market-wide third-party servicing capability 
   and consultancy services covering the London company 
   and Lloyd's markets as well as Europe and the United 
   States. Pro supports a number of the world's largest 
   insurance businesses. 
   In July 2007 Tawa plc was floated on the AIM market. 
   Further information can be found on the Company's 
   website: www.tawaplc.com 
   Tawa's acquisition timeline 
  Oct-02    Acquisition of CX Reinsurance Company Limited - largest 
             run-off in London market excluding Equitas - $2.2. 
             billion of liabilities 
  May-07    Acquisition of KX Reinsurance Company Limited 
  Mar-08    Acquisition of PXRE Reinsurance Company 
  Nov-09    Acquisition of The Pro group of companies 
  Oct-10    Acquisition of Island Capital Ltd 
  Mar-11    Acquisition of Oslo Reinsurance Company (UK) 
  Mar-11    Launch of QX Reinsurance Company Limited (Special 
             purpose reinsurance deal for Pennsylvania National 
             Mutual Casualty Insurance Company) 
  Apr-11    51 percent stake in sole holding company of the Lincoln 
             General Insurance Company 
  Sep-11    Acquisition of Chiltington Group (awaiting regulatory 
             approval) 
  Sep-11    Acquisition of Whittington UK as part of a consortium 
             (awaiting regulatory approval)

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQEAFEXFAEFFAF

Achp (LSE:ACH)
Historical Stock Chart
From May 2024 to Jun 2024