HAMILTON, Bermuda, Feb. 23, 2016 (GLOBE NEWSWIRE) -- American Overseas Group Limited (BSX:AOREF.BH) (Pink Sheets:AOREF.PK) (“AORE”) today announced that the Board of Directors of its wholly owned subsidiary, American Overseas Reinsurance Company Limited (“the Company”), has suspended the dividend on its Class B preference shares to ensure liquidity to meet its operational needs.
Information About the Company
American Overseas Group Limited is an insurance holding company incorporated in Bermuda and a tax resident of the United Kingdom. American Overseas Reinsurance Company Ltd., one of its operating subsidiaries, is a property/casualty reinsurance company that currently writes short tail non-catastrophe property/casualty reinsurance and 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.
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Source:American Overseas Group, Ltd.