Catlin organization confined introduced that its subsidiary,
Catlin insurance organisation Ltd. (CICL), “has completed the sale of its
investment in container Innovation institution restricted (‘BIGL’, buying and
selling as ‘insurethebox’) to Aioi Nissay Dowa coverage corporation of Europe
limited (‘Aioi’).”
Catlin’s declaration also explained that beneath the sale
settlement, first introduced final December, “Aioi has received stocks from
CICL in addition to different shareholders, and because of the transaction Aioi
now owns seventy five.01 percent of BIGL.
“CICL has received cash proceeds of about £85 million [$126
million] from the sale. Following the of completion of the sale, the Catlin
Board of directors has declared a special dividend of eleven.7 pence [app. 17
U.S. cents] in step with percentage payable on 24 April 2015 to shareholders of
record at near of business on 10 April 2015.
“CICL first invested in BIGL while insurethebox became
launched in 2010 and supported BIGL in successfully developing its platform
since that time.”
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