GEROVA Financial Group
Encyclopedia
GEROVA Financial Group, Ltd is an international reinsurance
company with operating insurance subsidiaries in Bermuda
, Barbados
, and Ireland
.
As Asia Special Situations Acquisition Corporation, the company attempted to acquire White Energy, an Australian coal mining firm, in 2009.
However, that deal did not occur.
On December 7, 2010, Gerova announced agreements, subject to approval, to acquire Seymour Pierce, a small London investment bank and Ticonderoga Securities, a New York securities broker. If the transactions close, Gerova would use the Seymour Pierce name.
Reinsurance
Reinsurance is insurance that is purchased by an insurance company from another insurance company as a means of risk management...
company with operating insurance subsidiaries in Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
, Barbados
Barbados
Barbados is an island country in the Lesser Antilles. It is in length and as much as in width, amounting to . It is situated in the western area of the North Atlantic and 100 kilometres east of the Windward Islands and the Caribbean Sea; therein, it is about east of the islands of Saint...
, and Ireland
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
.
Acquisitions and name changes
Gerova was previously named Asia Special Situations Acquisition Corporation. The name was changed in February 2010.As Asia Special Situations Acquisition Corporation, the company attempted to acquire White Energy, an Australian coal mining firm, in 2009.
However, that deal did not occur.
On December 7, 2010, Gerova announced agreements, subject to approval, to acquire Seymour Pierce, a small London investment bank and Ticonderoga Securities, a New York securities broker. If the transactions close, Gerova would use the Seymour Pierce name.