Total assets $548 million
Gross reserves $
Net assets $197 million
The acquisition of Quanta, a Bermuda holding company listed on NASDAQ, for $197 million in cash, followed the approval of the common shareholders of Quanta, and regulatory approvals from the Bermuda Monetary Authority, the Colorado Division of Insurance, the Indiana Department of Insurance and the Irish Financial Regulator in Dublin.
Consideration for the acquisition was met from Catalina’s own internal resources and a senior debt facility provided by Lloyds TSB and Royal Bank of Scotland.
Catalina has maintained Quanta’s offices in Bermuda, Ireland and the United States.