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American Overseas Group Limited Announces Repurchase of American Overseas Reinsurance Company Limited Class B Preference Shares

2022-06-24 18:16 ET - News Release

HAMILTON, Bermuda, June 24, 2022 (GLOBE NEWSWIRE) -- American Overseas Group Limited (BSX: AORE.BH) (Pink Sheets: AOREF.PK) (the "Company") today announced that its subsidiary, American Overseas Reinsurance Company Limited ("AORE"), completed a private repurchase of $3.7M liquidation value of its Class B Preference Shares (the "Shares") from an undisclosed holder.

Information About the Company

American Overseas Group Limited is an insurance holding company incorporated in Bermuda and a tax resident of the United Kingdom. One of its operating subsidiaries, American Overseas Reinsurance Company Ltd., historically wrote financial guaranty reinsurance for U.S. and international public finance and structured finance transactions. The Company's financial guaranty reinsurance obligations were retired in April of 2020 with a final commutation transaction between it and its last remaining cedant. The Company's primary subsidiary is Old American Capital Corp, whose operating subsidiaries are licensed in 16 states and focused on serving monoline personal auto customers. More information can be found at www.aoreltd.com.

SOURCE: American Overseas Group Limited

American Overseas Group Limited

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