ACP Re, Ltd. Comments on Tower Group International Ltd.
HAMILTON, Bermuda, Feb. 12, 2014 (GLOBE NEWSWIRE) -- In response to queries received, ACP Re, Ltd. ("ACP Re") announced today that it is continuing to work closely with the management of Tower Group International, Ltd. ("Tower") towards the closing of the previously announced merger. The transaction is expected to close in the summer of 2014, pending satisfaction of certain conditions including the receipt of stockholder and regulatory approval.
ACP Re also noted that Tower's current insurance business is supported through the previously announced agreements with Tower regarding the Personal Lines Cut-Through Reinsurance Agreement with a subsidiary National General Holdings Corp. and Commercial Lines Cut-Through Reinsurance Agreement with a subsidiary of Amtrust Financial Services, Inc.
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