Tawa, a quoted insurance service provider and run-off investor, has completed the acquisition of 100% of the issued shares of Oslo Reinsurance Company (UK), as announced on 21 December 2010, following the regulatory approval from FSA.
Oslo Reinsurance is a reinsurance company, which provides accident and health reinsurance. The company also owns and manages a securities portfolio. The company operates in Norway and England.
Since its formation, Tawa has acquired CX Reinsurance Company, KX Reinsurance, PXRE Reinsurance, Island Capital and the PRO group of companies.
Tawa was formed in 2001 with the purpose of acquiring or developing assets and business in the insurance industry. Tawa is interested in acquiring run-off portfolios of insurance and reinsurance companies, companies and businesses providing services to the insurance industry and in developing its own products to serve the insurance market as a whole such as Stripe.
The combined Tawa/PRO team of 300 professionals service a number of the largest insurance businesses in the UK and Europe and deliver third-party servicing capability as PRO services active underwriters as well as run-offs and cover London’s company and Lloyd’s markets as well as Europe and the USA.