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American Overseas Group Limited Announces Repurchase of Series A Preference Shares

HAMILTON, Bermuda, Jan. 31, 2020 (GLOBE NEWSWIRE) -- American Overseas Group Limited (BSX:AORE.BH) (Pink Sheets:AOREF.PK) (“AOG”) today announced that it completed a private repurchase of $25M liquidation value of its Series A Preference Shares (the “Shares”) from an undisclosed holder (the “Holder”).  Post liquidation, the Company will have $13.6M liquidation value of its Series A Preference Shares outstanding.  

Information About the Company

American Overseas Group Limited is an insurance holding company incorporated in Bermuda and a tax resident of the United Kingdom.  Its operating subsidiary, American Overseas Reinsurance Company Ltd., historically wrote financial guaranty reinsurance for U.S. and international public finance and structured finance transactions.  The Company’s financial guaranty reinsurance business is in run-off.  More information can be found at www.aoreltd.com.

SOURCE: American Overseas Group Limited