Bermuda consolidator joins Advent and AnaCap

Catalina Holdings is one of the initial bidders for the Co-operative Group’s insurance business, according to reports.

Sky News reports that the Bermuda-based group, which usually acquires general insurance and reinsurance companies and portfolios in run-off, is one of a mix of financial and trade bidders.

Others in the running are reported to include Advent International, which has been working with former RSA chief executive Andy Haste on a possible offer, and financial services investor AnaCap, which last week lost out on an attempt to acquire 314 branches from BRS.

Deutsche Bank is handling the sale. The Co-op was originally thought to be seeking £600m for its general insurance arm, but most market commentators believe that price is too optimistic. The group needs to sell its insurance business to plug a £1.5bn black hole in the balance sheet of its bank.

It sold its life insurance operation to Royal London for £219m.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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