Catalina Holdings

Catalina Holdings (Bermuda) Ltd. operates as a specialized consolidator within the non-life insurance and reinsurance sector, focusing on acquiring and managing companies and portfolios that are in run-off. Founded in 2005 by Chris Fagan and Dean Dwonczyk, the Bermuda-based holding company provides a strategic exit for owners of insurance and reinsurance businesses. This allows client companies to release capital, minimize operational costs, and achieve finality from their liabilities, enabling them to refocus on core business activities.

The company's business model is centered on the acquisition of legacy liabilities. By purchasing entire companies or specific portfolios that have ceased writing new policies, Catalina takes over the management of the existing assets and the ongoing responsibility for the associated liabilities. This strategy has led to significant growth, with the company completing over 30 transactions and acquiring liabilities in excess of $9 billion since its inception. Key strategic milestones include a significant investment from affiliates of Apollo Global Management in 2013, which acquired a majority stake in 2017, and a minority investment from RenaissanceRe Ventures Ltd. in 2018. These partnerships have provided substantial financial resources and industry expertise, reinforcing Catalina's market position.

Catalina serves a global market, with a primary focus on well-regulated jurisdictions such as Bermuda, the United States, the United Kingdom, and Europe. A notable strategic expansion was its entry into the Asian market through the acquisition of Asia Capital Reinsurance Group (ACR) in 2020, positioning Singapore as a hub to tap into the continent's substantial run-off market. The company manages a diverse range of liabilities, including property, motor, marine, and aviation reinsurance portfolios. While historically focused on property and casualty legacy assets, the company has also been transitioning towards life reinsurance. Catalina operates with a global footprint, maintaining offices in locations including the US, UK, Ireland, and Switzerland to support its acquisition and management activities.

Keywords: legacy insurance, reinsurance run-off, non-life insurance consolidator, insurance portfolio acquisition, capital management solutions, risk transfer, insurance liability management, P&C legacy, life reinsurance, insurance M&A, Apollo Global Management, run-off specialist, reinsurance asset management, insurance finality solutions, legacy liabilities, insurance sector consolidator, Bermuda reinsurance, insurance run-off management, portfolio transfer, reinsurance solutions