CaribPR Wire

TORONTO and NEW YORK, Dec. 6, 2017 /PRNewswire-HISPANIC PR WIRE/ — Scotiabank announced today partnerships with two prominent Israeli technology leaders, Viola Group and Team8.  These partnerships further establish Scotiabank as a leader in the global innovation ecosystem and will help accelerate its development of technology capabilities, best-in-class customer experiences, and expertise in cybersecurity.

Scotiabank is investing in Viola FinTech I, L.P., a new venture fund that will invest in Israeli, European and North American FinTechs across various growth stages. The fund will co-invest alongside other leading global venture capital, private equity and financial institution investors. Their mission is to create mutual value by bridging the gap between financial institutions and innovative startups. The fund is led by Avi Zeevi, Prof. Daniel Tsiddon and Tomer Michaeli, an exceptionally experienced team with proven track records in banking, entrepreneurship and investment.

“We are delighted to partner with Viola Group to accelerate the Bank’s digital transformation and work with the most promising FinTechs across the globe,” said Ignacio (Nacho) Deschamps, Group Head, International Banking and Digital Transformation at Scotiabank. “This partnership will allow us to access Israel’s innovation ecosystem including well-established cybersecurity and anti-fraud expertise by leveraging Viola Group’s unique entrepreneurial and operational expertise.”

“We are honoured to work with a world-class financial institution such as Scotiabank which is truly committed to innovation and its customers worldwide,” said Prof. Daniel Tsiddon, principal of Viola Fintech. “We already see early results of this long-term collaboration and we look forward to working with Scotiabank to accelerate the integration of innovative ideas.”

Scotiabank and Team8, Israel’s most prestigious cybersecurity think tank and company-creation platform, will work together to foster cybersecurity innovation, through the exchange of knowledge, insights, and methodologies. An executive from Scotiabank will sit on Team8’s advisory board alongside Chief Information and Security Officers of other global financial institutions.

“We look forward to our partnership with Team8 to deepen our technology capabilities and know-how, which are foundational to Scotiabank’s digital transformation,” said Michael Zerbs, Chief Technology Officer at Scotiabank. “This partnership will increase our access to Israel’s world-class cybersecurity and fraud prevention ecosystem.”

“We are thrilled that Scotiabank will play a role in our unique company creation model to solve the big problems in cybersecurity. It is truly a win-win partnership,” said Nadav Zafrir, CEO and Co-Founder of Team8 and former Commander of Israeli Intelligence Unit 8200. “Joining our advisory board and pioneering our community of chief information security officers represents Scotiabank’s deep commitment to our shared vision of partnering with the industry to empower resilience within organizations. Their insights and experience bring incredible value to our approach.”

Israel has become known as the “Start-up Nation” and one of the premier places for high-tech firms and innovation. These partnerships are part of a broad digital transformation strategy the Bank is undertaking, which spans over multiple geographies and multiple strategic alliances, such as existing venture capital relationships with QED Investors, Georgian Partners and ScaleUP Ventures. Execution of this strategy has also yielded the creation of the Digital Factories in Canada, Mexico, Chile, Colombia and Peru, and the establishment of partnerships with academic institutions.

About Scotiabank

Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $915 billion (as at October 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @Scotiabank.

About Viola Group

Viola Group, with over $2.8 Billion under management, is Israel’s premier technology oriented private equity investment group. Viola Group aims to provide long term, world-class returns by identifying and pursuing attractive investment strategies in the vibrant Israeli technology market. Viola Group is comprised of focused independent partnerships including a venture fund, a debt fund and a growth fund. Viola is currently establishing its FinTech arm – a global cross stage FinTech focused venture fund. The group funds, backed by leading global institutional investors from all over the world, have invested in over 200 technology companies. The group was co-founded by Avi Zeevi who is considered Israel’s leading Fintech investor.

About Team 8

Team8, Israel’s most prestigious cybersecurity think tank and venture creation foundry, develops disruptive companies that challenge the biggest problems in cybersecurity today. The Team8 innovation process combines a research team with intimate knowledge of both offensive and defensive aspects of cybersecurity, access to the best cyber talent, and a global syndicate that provides access to customers, partners and key influencers. Team8 was founded by leading cybersecurity experts Nadav Zafrir, Israel Grimberg and Liran Grinberg, all with deep ties to Israel’s famous IDF Technology & Intelligence Unit 8200. It is backed by Microsoft Ventures, Cisco, AT&T, Accenture, Qualcomm, Nokia, Temasek, Mitsui, Bessemer Venture Partners, Eric Schmidt’s Innovation Endeavors and Marker LLC. For more information on Team8, please visit www.team8.vc

TORONTO and NEW YORK, Dec. 5, 2017 /PRNewswire-HISPANIC PR WIRE/ — Scotiabank announced today that Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) has formally accepted Scotiabank’s offer to acquire its 68.19% ownership in BBVA Chile, and its interests in certain subsidiaries, for approximately US$ 2.2 billion (CAD$ 2.9 billion). Scotiabank has entered into definitive agreements with BBVA and intends to merge BBVA Chile with its existing operations in Chile (Scotiabank Chile), subject to regulatory approvals.

The Said family, which owns 31.62% of BBVA Chile, has waived its Right of First Refusal to acquire BBVA’s shares of BBVA Chile, but maintains the right to tender all or a portion of its shares in the mandatory tender offer to be carried out by Scotiabank. The Said family has indicated their willingness to potentially remain in the business and, if so, would invest up to approximately US$ 500 million (CAD$ 650 million) in order to own up to 25% of the combined business when Scotiabank Chile and BBVA Chile are merged. In this scenario, and if the transaction is completed, Scotiabank’s Common Equity Tier 1 capital ratio will be impacted by approximately 90 basis points.  Scotiabank’s Common Equity Tier 1 capital ratio would be impacted by approximately 135 basis points, if the transaction is completed and the Said family tenders all of its shares to Scotiabank.

This transaction is in line with Scotiabank’s strategy to increase scale within the Chilean banking sector and the Pacific Alliance countries. It will double Scotiabank’s market share in Chile to approximately 14%, and make Scotiabank the 3^rd largest private sector bank in the country.

“We are pleased to have reached an agreement with BBVA to acquire their shares of BBVA Chile.  We look forward to a partnership with the Said family and to build a better bank in Chile,” said Brian Porter, President and CEO at Scotiabank.  “BBVA Chile has a proven track record of providing leading financial products and services to customers across the country and this transaction demonstrates excellent synergy between both banks with customer-centric cultures.”

“This acquisition allows us to create a leading bank in Chile underpinned by a solid risk culture and provides opportunities to accelerate our digital transformation, while building a high performance team,” said Ignacio (Nacho) Deschamps, Group Head, International Banking and Digital Transformation at Scotiabank.

Conference call

A conference call will take place on December 5, 2017, at 8:30 a.m. ET. Interested parties are invited to access the call live, in listen-only mode, by telephone at (416) 640-5944, or toll-free at 1-800-281-7973 (please call five to 15 minutes in advance). In addition, an accompanying slide presentation may be accessed via the Investor Relations page of www.scotiabank.com. Following discussion of the transaction by Scotiabank executives, there will be a question and answer session.

A telephone replay of the conference call will be available from December 5, 2017, to December 20, 2017, by calling (647) 436-0148 or 1-888-203-1112 (North America toll-free) and entering the identification code 9422114#.

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $915 billion (as at October 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @Scotiabank.

TORONTO and NEW YORK, Nov. 28, 2017 /PRNewswire-HISPANIC PR WIRE/ — Scotiabank announced today that it has submitted a binding offer to acquire Banco Bilbao Vizcaya Argentaria, S.A.’s (BBVA) shares in BBVA Chile, which BBVA is willing to accept if BBVA’s minority partner, the Said family, does not exercise its Right of First Refusal under the shareholders agreement between BBVA and the Said family.

BBVA owns 68.19% of BBVA Chile and the Said family owns 31.62% of BBVA Chile. Scotiabank has offered to acquire BBVA’s interests in BBVA Chile, and certain subsidiaries, for approximately US$2.2 billion (CAD$2.9 billion).

This transaction is in line with Scotiabank’s strategy to increase scale within the Chilean banking sector and the Pacific Alliance countries. It will double Scotiabank’s market share in Chile to approximately 14%, and make Scotiabank the 3^rd largest non-state owned bank in the country.  If the transaction is completed, Scotiabank’s Common Equity Tier 1 capital ratio will be impacted by approximately 100 basis points.

Pursuant to the mandatory tender offer for all the shares of BBVA Chile required under Chilean law or the Said family’s tag-along rights under the shareholders agreement of BBVA Chile, the Said family has the right to sell its shares of BBVA Chile on the same basis to Scotiabank.  Scotiabank’s Common Equity Tier 1 capital ratio would be impacted by approximately 135 basis points, if the transaction is completed and the Said family tenders/sells all of its shares to Scotiabank.

About BBVA Chile and Scotiabank Chile (September 2017 and in Canadian dollar equivalent):

About Scotiabank
Scotiabank is Canada’s international bank and a leading financial services provider in North America, Latin America, the Caribbean and Central America, and Asia-Pacific. We are dedicated to helping our 24 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 88,000 employees and assets of over $906 billion (as at July 31, 2017), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.

CaribPR Wire, NEW YORK, Nov. 14, 2017 : MarketAxess Holdings Inc. (Nasdaq:MKTX), the operator of a leading electronic trading platform for fixed income securities, and the provider of market data and post-trade services for the global fixed income markets, today announced that trading in Latin American corporate and sovereign bonds set a record of $110.5 billion in the nine months ending September 30^th, up  36% compared with the year-earlier period.

Trading in Latin American debt denominated in local currency was up 27% to a record $30 billion year-to-date through the third quarter. MarketAxess currently supports trading in the currencies of Brazil, Mexico, Argentina, Colombia, Peru, Chile, and Uruguay. In addition, trading in hard currency debt was up 40% to $80 billion in the same period. Growth on the MarketAxess platform came despite relatively flat Emerging Market trading volumes overall, with estimated market volume growth of 6% year-to-date based on FINRA TRACE and Trax® volumes reported in US dollars.

On a global basis, more than 840 institutional investors have traded Latin American debt on the MarketAxess platform. Contributing to the activity in the region has been a significant increase of 64% in trading volume by Latin America-based clients on MarketAxess.

“While it’s been a challenging year for fixed income in many regions, we continue to see impressive growth in electronic trading volumes among our clients in Latin America,” said Kevin McPherson, Global Head of Sales, MarketAxess. “Our investor and dealer clients in the region are actively accessing the full range of products on the MarketAxess platform.”

“More and more institutional investors are seeing the value of a centrally located global fixed income marketplace for local and global market participants,” added Sandy White, Global EM Product Manager, MarketAxess. “Our growth and expansion in Latin America is part of our global strategy to provide the most comprehensive coverage of hard and local currency emerging market debt.”

MarketAxess offers global 24-hour electronic trading for debt denominated in hard and local currency across three major EM regions – Latin America, Europe and Asia. Last year, the company expanded its Latin America team with senior leadership hires in Miami and São Paulo.

About MarketAxess
MarketAxess operates a leading electronic trading platform that enables fixed-income market participants to efficiently trade corporate bonds and other types of fixed-income instruments using MarketAxess’ patented trading technology.  Over 1,300 institutional investor and broker-dealer firms are active users of the MarketAxess trading platform, accessing global liquidity in U.S. high-grade corporate bonds, emerging markets and high-yield bonds, European bonds, U.S. agency bonds, municipal bonds, credit default swaps and other fixed-income securities. MarketAxess also offers a number of trading-related products and services, including: market data to assist clients with trading decisions; connectivity solutions that facilitate straight-through processing; technology services to optimize trading environments; and execution services for exchange-traded fund managers and other clients.  Through its Trax® division, MarketAxess also offers a range of pre- and post-trade services, including trade matching, regulatory transaction reporting and market and reference data, across a range of fixed-income products.  Trax is the trading name of Xtrakter Ltd., a MarketAxess group company.

MarketAxess maintains its headquarters in New York and has offices in London, Boston, Chicago, Los Angeles, Miami, Salt Lake City, San Francisco, São Paulo, Hong Kong and Singapore. For more information, please visit www.marketaxess.com.

MarketAxess establece el récord de la plataforma de negociar con bonos latinoamericanos de $110.5 mil millones por nueve meses hasta el 30 de septiembre

CaribPR Wire, NUEVA YORK, Nov. 15, 2017: MarketAxess Holdings Inc. (Nasdaq:MKTX), el operador de una plataforma de negociación electrónica líder para valores de renta fija y el proveedor de datos de mercado y servicios posteriores a la negociación para los mercados de renta fija globales, anunció hoy que la negociación de bonos corporativos y soberanos latinoamericanos había alcanzado un récord de $110.5 mil millones en los nueve meses que finalizaron el 30 de septiembre, un 36% más en comparación con el mismo periodo del año anterior.

La negociación de deuda latinoamericana denominada en moneda local aumentó un 27% alcanzando así un récord de $30 mil millones hasta la fecha durante el tercer trimestre. Actualmente, MarketAxess admite la negociación en las monedas de Brasil, México, Argentina, Colombia, Perú, Chile y Uruguay. Además, la negociación de deuda en moneda fuerte aumentó un 40% llegando a $80 mil millones en el mismo período. El crecimiento en la plataforma MarketAxess se produjo a pesar de los volúmenes de negociación de mercados emergentes relativamente poco activos en general, con un crecimiento estimado del volumen del mercado del 6% hasta la fecha, basado en los volúmenes de FINRA TRACE y Trax® registrados en dólares estadounidenses.

A nivel mundial, más de 840 inversores institucionales han negociado deuda latinoamericana en la plataforma MarketAxess. La contribución a la actividad de la región ha supuesto un aumento significativo del 64% en el volumen de negociación de los clientes con sede en América Latina en MarketAxess.

“Si bien ha sido un año desafiante para la renta fija en muchas regiones, seguimos observando un crecimiento impresionante en los volúmenes de negociación electrónica entre nuestros clientes de América Latina”, comentó Kevin McPherson, Jefe de Ventas Globales de MarketAxess. “Nuestros clientes inversores y distribuidores de la región están accediendo activamente a la gama completa de productos en la plataforma MarketAxess”.

“Cada vez más inversores institucionales perciben el valor de un mercado de renta fija global de ubicación céntrica para los participantes del mercado local y mundial”, agregó Sandy White, Gerente Global de Productos EM, MarketAxess. “Nuestro crecimiento y nuestra expansión en América Latina forma parte de nuestra estrategia global de proporcionar la cobertura más completa de la deuda de los mercados emergentes en moneda fuerte y en moneda local”.

MarketAxess ofrece operaciones de negociación electrónicas globales durante las 24 horas para la deuda denominada en moneda fuerte y local en tres regiones importantes de ME: América Latina, Europa y Asia. El año pasado, la compañía amplió su equipo de América latina con altos cargos directivos en Miami y São Paulo.

Acerca de MarketAxess
MarketAxess opera una plataforma de negociación electrónica líder que permite a los participantes del mercado de renta fija intercambiar de manera eficiente bonos corporativos y otros tipos de instrumentos de renta fija utilizando la tecnología de negociación patentada de MarketAxess. Más de 1.300 empresas de corredores de bolsa e inversores institucionales son usuarios activos de la plataforma de negociación MarketAxess, accediendo a liquidez global en bonos corporativos de alta calidad estadounidenses, mercados emergentes y bonos de alto rendimiento, bonos europeos, bonos de agencias estadounidenses, bonos municipales, swaps de incumplimiento crediticio y otros valores de renta fija. Asimismo, MarketAxess ofrece una serie de productos y servicios relacionados con la negociación, entre los que se encuentran: datos de mercado para ayudar a los clientes con las decisiones de negociación; soluciones de conectividad que facilitan el procesamiento directo; servicios tecnológicos para optimizar los entornos comerciales; y servicios de ejecución para gestores de fondos negociados en bolsa y otros clientes. A través de su división Trax®, MarketAxess también ofrece una gama de servicios previos y posteriores a la negociación, incluida la correspondencia comercial, los informes reglamentarios de transacciones y los datos de mercado y de referencia, en una gama de productos de renta fija. Trax es el nombre comercial de Xtrakter Ltd., una compañía del grupo MarketAxess.

MarketAxess tiene su sede en Nueva York y tiene oficinas en Londres, Boston, Chicago, Los Ángeles, Miami, Salt Lake City, San Francisco, São Paulo, Hong Kong y Singapur. Para obtener más información, visite www.marketaxess.com.

Contacto de departamento de prensa:
Mary Sedarat
MarketAxess Holdings Inc.
+1-212-813-6226

Dr. Gillian Marcelle, executive director of the Virgin Islands’ Specialist Economic Development Agency, the UVI RTPark, addressing VIP guests at the June 7th Investment Showcase in NYC.

CaribPR Wire, NEW YORK, NY, Weds. June 14, 2017: There is a simpler way to invest in the Caribbean and the US Caribbean territory of the U.S. Virgin Islands.

That’s the message Dr. Gillian Marcelle, executive director of the Virgin Islands’ Specialist Economic Development Agency, the UVI RTPark, brought to potential investors, executives and members of the Caribbean Diaspora, at the agency’s VIP Investment Showcase Reception during Caribbean Week in New York on June 7th.

“We are ready to help you set up a business in the U.S.V.I. in as little as three to four months,” Dr. Marcelle told the some 60 plus VIP guests at the Showcase in the financial capital of the world. “We see the UVI RTPark as an entry point to the US and a bridge to the wider Caribbean. A company establishing in this Caribbean US territory will profit from a number of benefits, including up to 90 percent reduction in income taxes for qualifying income, as well as reductions or exemptions in other taxes. From this base, you can serve clients anywhere in the world.

Christopher Halliday, partner at Morgan, Lewis & Bockius LLP, told the audience, the RTPark will foster economic growth, not just in the USVI, but across the Caribbean.

Applying for membership to the RTPark program is simple and involves three stages: screening and pre-application; negotiation of a term sheet and a formal application procedure.

The RTPark is keen on attracting technology companies in health and medicine, energy research & system deployment, as well as marine science related products and Internet advertising and software development.

Meanwhile, Chairman of the UVI RTPark’s Board of Directors, Edward E. Thomas, lauded the agency’s first Caribbean Diaspora focused marketing efforts and reminded investors that there is no limit to the number of companies who can become clients of the program.

And President of the University of the Virgin Islands, Dr. David Hall, said that he looks forward to the ongoing public/private sector partnership between clients of the RTPark and the University as the agency continues to promote the U.S.V.I. as an impact investment hub for the Caribbean.

Interested companies can contact the RTPark at 1-340-692-4304 or by email at [email protected]. The RTPark is also on Twitter @UVI_RTPark or on Facebook at UVI Research and Technology Park

SOURCE: UVI RTPark

MEDIA CONTACT:

Felicia J. Persaud

[email protected]

718-476-3616

Arton Capital appointed advisors in the process

MONTREAL, June 2, 2017 /PRNewswire-HISPANIC PR WIRE/ — Arton Capital has been appointed to study and evaluate Armenia’s potential to develop and market an immigrant investor program, following an invitation from the International Centre for Migration Policy Development. The ICMPD seeks to promote innovative and sustainable migration policies around the world. The initiative comes as a series of steps undertaken by the EU-funded project entitled Support to Migration and Border Management.

In a series of meetings held in Yerevan this week, Arton’s team of experts had the chance to delve into the local political economy as well as the existing legal frameworks relating to visa and residency issuance, naturalization, and laws regarding foreigners.

The concept of citizenship by investment was embraced by high level officials at the Ministry of Economic Development and Investments, the Ministry of Foreign Affairs, the Presidential Administration, the Central Bank, the Police, the State Migration Service and the Center for Strategic Initiatives.

The government of Armenia shared its strong belief that alternative means of attracting foreign direct investment are of primary importance for the country’s economic development and future growth. For their part, the experts from Arton Capital shared their view that Armenia has the potential to position itself as a unique investment destination for high net worth individuals from the Middle East and Asia.

Arton Capital has been tasked with producing a detailed report that will evaluate the existing infrastructure, outline the best ways to structure an attractive and sustainable program in accordance with EU laws, and implement industry-leading due diligence practices.

Many countries in Europe, North America and the Caribbean have implemented citizenship and residency programs in the past 20 years, and they have attracted billions in investments. Many more are considering the implementation of such programs as a highly effective means of boosting foreign direct investment.

“The direction chosen by Armenia is shared by many others,” says Armand Arton, founder and president of Arton Capital. “As a proud Armenian, I am honored to offer my years of professional experience and acute know-how to help the country meet its foreign direct investment goals.”

In support of its philanthropic commitment, Arton Capital has pledged to donate the consulting fees awarded by the contract to help refugees in Armenia. More than 20,000 Syrians, many of whom are ethnically Armenian, have found refuge in Armenia since the Syrian war began in 2011.

About Arton Capital

Arton Capital empowers individuals and families to become Global Citizens by investing in second residence and citizenship around the world. This is accomplished through a bespoke service experience that simplifies complexity and is supported by long-term relationships.

As a global financial advisory firm specializing in investor programs for residence and citizenship, Arton plays a critical role in helping governments, industry professionals and investors meet their goals quickly, efficiently and effectively.

Arton is the founder of the Global Citizen Forum as well as the Global Citizen Foundation. Its global operations are spread over 15 offices around the world and have helped attract over US$3 billion in foreign direct investment to various countries.

Arton Capital is a member of The Arton Group, which comprises fully licensed international banking, financial advisory and investment consulting companies tailored to the needs of Global Citizens.

LONDON, Feb. 22, 2017 /PRNewswire-HISPANIC PR WIRE/ – The Prime Minister of Antigua and Barbuda, the Hon. Gaston Browne announced that the Cabinet has approved a new policy on diplomatic representation and accreditation based in part on the Global Investor Immigration Council’s (GIIC) regulatory recommendations.

The GIIC made the regulatory recommendations to increase the transparency and accountability of diplomatic appointments’ work with the country’s Citizenship by Investment Program (CIP). The recommendations are part of the GIIC’s collaboration with Professor Craig Barker, Dean of the School of International Law and Social Sciences, London South Bank University, and included proposals for more thorough due diligence, stricter appointment procedures and tighter controls.

“In order to manage the risks associated with these appointments, the appointment shall be for a maximum of two years, subject to renewal upon satisfactory performance.” shared the Hon. Gaston Browne. Further he shared “To ensure appropriate representation by non-national ambassadors-at-large, special envoys and honorary consuls, thorough background and other due diligence checks shall be conducted on persons under consideration and prior to their appointment.”

Mykolas Rambus, Chairman of the GIIC shared “For countries with citizenship by investment programs, diplomatic figures are of even greater importance. Conscious of preserving the integrity and standing of diplomatic and other passports of Antigua and Barbuda, the government has implemented even more rigorous appointment procedures including expanded due diligence and monitoring practices. Antigua and Barbuda have clearly taken steps to advance the reputation of the country and improve the performance of its citizenship by investment program.”

About the GIIC

The Global Investor Immigration Council (GIIC) is the investor immigration industry’s self-regulatory body, protecting integrity, ensuring transparency, and advancing advocacy for all constituents. The GIIC develops and maintains best industry practices, serves as a non-partisan, not-for-profit forum for all stakeholders to ensure dialogue, stability, and success. To learn more, please visit www.giic.uk.

Strategic development to implement a single global brand

HONG KONG, Feb. 12, 2017 /PRNewswire-HISPANIC PR WIRE/ – Vistra, one of the world’s leading service providers in international incorporations, trust, fiduciary, and fund administration services, today announced that OIL, Asia’s leading company formation specialist, has rebranded to Vistra.

(Logo: http://photos.prnewswire.com/prnh/20150611/748772 )

The rebrand heralds an exciting new chapter for Vistra and is the culmination of five years of successful integration that began with the merger of OIL and Vistra in 2011. Following an alignment of the respective corporate identities in 2015, the re-branding of OIL to Vistra completes the final step in operating as one united business. With over 30 years history, OIL has become the leader in international incorporations and related services; working with both end clients and intermediaries to support their cross border aspirations. Moving forward, the OIL business will form the basis of Vistra’s Company Formation division to complement the broader service offerings available under the Vistra brand.

Martin Crawford, CEO of Vistra, commented on the rebrand:
“We are immensely proud of the OIL brand and what it has represented over the past 30 years; especially in the Asian markets in which it has operated. Originally branded Offshore Incorporations Limited, OIL for short, we pioneered the use of offshore entities in Asia as a means of opening up trade, investments, and capital market transactions to the rest of the world. As the business has developed and expanded beyond Asia, it makes sense to align under the Vistra brand. This is a significant step in the evolution of Vistra into a truly global brand and one that we are very excited about. Clients can expect the same level of service and expertise under the Vistra brand but now have better access to the global network should they require.”

Jonathon Clifton, Group Managing Director of Vistra’s Company Formation division added: “Completing the rebrand of OIL to Vistra unites and strengthens our resources as a single international brand. This paves the way for countless opportunities for our clients, our people, and our investors, creating a better connectivity between Asia, Europe, and the rest of the world. Our focus remains on our clients as we develop the brand and our services, especially as we shift towards and build upon our onshore capabilities. This rebrand represents a milestone for all of us, one that welcomes new changes and growth for the Vistra family.”

Editor Notes
https://www.vistra.com/about-us

David Brown appointed as Senior Partner in Bermuda and Regional Insurance Leader and Jessel Mendes named Regional Growth Markets Leader

HAMILTON, Bermuda, Nov. 1, 2016 /PRNewswire-HISPANIC PR WIRE/ — Ernst & Young Ltd. today announced two leadership changes. David Brown will become the firm’s Senior Partner in Bermuda and Insurance Leader for the EY Bahamas, Bermuda, British Virgin Islands and Cayman Islands region, replacing Pete Cangany, who will retire from EY after 37 years with the organization. This transition will take effect on July 1, 2017, and Cangany will remain in the role until that time. Effective immediately, Jessel Mendes will assume the new role of Regional Growth Markets Leader, in addition to his current responsibilities as Partner of Ernst & Young Ltd. (EY Bermuda).

Brown most recently served as the Insurance Industry leader for the Southwest Region of Ernst & Young LLP in the US and directed the Southwest Region FSO Assurance practice. He has more than 27 years of experience working with large multinational clients, including insurance companies with global operations, US domestic insurance enterprises and Bermuda-based global reinsurance companies. Cangany has served as Senior Bermuda Partner since July 2014, and has been regional Insurance Leader since January 2013.

“Under Pete’s leadership, we have been able to build a high-performing team in Bermuda, enhance our relationships with stakeholders across the market and expand our range of services and expertise,” said Dan Scott, Regional Managing Partner for the EY region including Bahamas, Bermuda, the British Virgin Islands and the Cayman Islands. “We are very excited to have David assume this role and contribute to our legacy of leadership. His deep insurance and reinsurance experience, coupled with his knowledge of the market, will allow us to bring even more global resources to our Bermuda clients and help them capitalize on new opportunities. We are pleased to have Pete remain in the role through the end of June to provide guidance and assist in the transition process.”

In taking on the new role of Growth Markets Leader for the region, Jessel Mendes will be adding to his current responsibilities as EY Bermuda Partner. In addition to continuing to interact with EY Bermuda clients and other market stakeholders, as Growth Markets Leader he will focus on driving growth for EY firms across the region, maintaining a pulse on the market, overseeing the growth of EY service offerings, programs and initiatives, and determining how resources and capabilities can be best deployed to benefit clients. Mendes, who is a member of the board of the Bermuda Business Development Agency (BDA), will also leverage his extensive network of relationships to uncover new opportunities and help EY Bermuda and the region’s other firms build on their market position.

“We are positioned for the next phase of growth in Bermuda and across the region, so the timing for these changes is ideal,” added Scott. “We have been working diligently with Pete, David and our clients to lay the groundwork for a smooth transition. David has a deep understanding of the challenges organizations are facing and great insurance industry knowledge, so he was a natural choice to lead our Bermuda practice. With Jessel taking on a new role, we now have a great opportunity to serve our clients’ rapidly-evolving needs and accelerate growth.”

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

This news release has been issued by Ernst & Young Ltd., Bermuda, a member of the global EY organization serving clients in Bermuda.

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Part of the audience at ICN 2015. (ICN image)

CaribPR Wire, NEW YORK, NY, Weds. June 1, 2016: This National Caribbean-American Heritage Month (NCAHM), Invest Caribbean Now (ICN), the private sector investment agency of the Caribbean, is celebrating the 110^th anniversary of NCAHM by putting the spotlight on economic investments in the Caribbean region and the U.S. and Canadian Caribbean Diasporas.

ICN is currently offering qualified developers with major Caribbean-focused projects in the real estate, infrastructure development, mining and energy sectors, an opportunity to pitch their projects to company executives.

Developers who meet the company’s criteria will be able to access a variety of financing options – both debt and equity – for projects valued at between USD 5 million and up to USD300 million through the ICN network. Construction projects like resort and hotel construction, villa and mixed use developments and multi-family properties are welcome as well as major infrastructure development, energy and mining projects. Additionally, debt funding is available for refinancing, purchase or bridge loans of between USD$1 to $100 million.

For an appointment, submit completed executive summary of project that includes bios of company executives, financial overview and projects and contact details to Ana Gonzalez at [email protected]. Appointments will be confirmed directly with developer based on preliminary company and project evaluation and interest.

Meanwhile, small to medium-sized Caribbean American and Hispanic-owned businesses in the U.S. and Canada who have been in existence for one year and have earnings of USD100, 000 can also contact ICN for access to SBE loans of up to USD250, 000 for expansion.

For more information see investcaribbeannow.com.

ABOUT INVEST CARIBBEAN NOW

Invest Caribbean Now was launched five years ago in collaboration at the time with the Caribbean Tourism Organization to serve as a conduit between funders and governments and private sector developers in the tourism field.

It  began with an annual investment forum that featured investment bankers, private equity investors, ministers of governments, hotel developers, tourism officials, architects, real estate developers, financial advisers, entrepreneurs, Chinese government officials and investors as well as the media in a giant match making event that put the spotlight on investment opportunities in several Caribbean nations including Bermuda, the Turks & Caicos Islands, St. Martin and Trinidad & Tobago. Based on its effectiveness in bringing people together to do business and its network of high net worth lenders and programs, ICN, owned by Hard Beat Communications, expanded it focus in 2015 to become the private sector investment agency of the Caribbean, focusing now year round on matching projects with funders and funding. ICN is the brainchild of Caribbean-born entrepreneur Felicia J. Persaud and is based in America’s financial capital of the world, New York City.

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SOURCE: Invest Caribbean Now

MEDIA CONTACT:

Kathy Bronson

Communications Coordinator

Invest Caribbean Now

[email protected]

718-476-3616

LONDON, May 23, 2016 /PRNewswire-HISPANIC PR WIRE/ – Physical Gold Fund SP (PGF) has registered with the FCA within the United Kingdom. PGF is now permitted to market within the United Kingdom through the National Private Placement Regime.

“This opens the door for UK institutions and citizens to own gold in what we believe to be the most secure and safe way possible,” says PGF Managing Director Alex Stanczyk, “The constant feedback that we receive from investors is that people have had enough of being taken advantage of by financial institutions that do not have their best interests at heart, and are looking for something real to preserve their hard earned savings.  We have taken a good look at what is available in this space, and have designed PGF from the ground up to avoid risks other gold products have by vaulting outside the banking system with the world’s top security logistics firms, clearing trades directly with refineries instead of banks, and by developing unique protocols to mitigate political risk. I am confident that this Fund is the most robust, secure, and thoughtfully constructed physical gold fund in the world today.”

About Physical Hard Assets Fund SPC

Physical Hard Assets Fund SPC is a Segregated Portfolio Company domiciled in Cayman Islands and regulated by the Cayman Islands Monetary Authority (CIMA).

About Physical Gold Fund SP

Physical Gold Fund SP is a Segregated Portfolio Fund of the Physical Hard Assets Fund SPC, listed on the Cayman Islands Stock Exchange, and regulated by CIMA. PGF is a transparent, open‐ended fund that invests in unencumbered, fully-allocated physical gold in the form of “Good Delivery” gold bars meeting accepted global standards. Shares of the Fund are redeemable for gold, and all physical gold is insured to its full market value.

For additional information: www.physicalgoldfund.com

Source: Physical Hard Assets Fund SPC, Physical Gold Fund SP (FRN: 739437, Umbrella FRN 739438, PRN’s: 739439, 7439440 and 739441).

This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall thereby any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Nothing in this communication should be construed as investment advice, an investment recommendation, or a solicitation to invest. This communication has not been approved by any authority for any purpose. This news release contains certain forward looking statements that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

CONTACT: UK Enquiries, Email: [email protected], Tel: 0208 584 0063

RICHMOND, Virginia, LONDON and HAMILTON, Bermuda, Dec. 8, 2015 /PRNewswire-HISPANIC PR WIRE/ — Markel Corporation (”Markel”) (NYSE: MKL) and CATCo Investment Management Ltd. (”CATCo”) jointly announced today the completion of the acquisition by Markel of substantially all of the assets of CATCo.

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The business, which provides collateralized protections to over 35 global reinsurance buyers, will now operate as Markel CATCo Investment Management Ltd. (”Markel CATCo”). Every member of the CATCo team, led by Chief Executive Officer Tony Belisle, has transferred to Markel CATCo.

Richard R. Whitt, President and Co-Chief Operating Officer of Markel, commented, “We welcome Tony and the CATCo team into the Markel family. The reception by existing CATCo reinsurance buyers and investors to the newly established Markel platform has been overwhelmingly positive. We truly will be hitting the ground running.”  Whitt further remarked, “Joining CATCo’s insurance linked investment management capabilities alongside Markel’s traditional reinsurance capabilities should make for a powerful combination.”

Tony Belisle, Chief Executive Officer of Markel CATCo Investment Management Ltd., said, ”I am delighted with the successful closure of the transaction and the bringing together of two fantastic organisations that share similar goals and cultures.

“The extra support our new owner brings will enable us to offer enhanced product ranges and secure capital efficiencies for our growing number of reinsurance buyers. With a significant amount of next year’s renewals already committed and projected AUM expected to exceed $3bn, 2016 is shaping up to be a positive and exciting year.”

Willis Capital Markets & Advisory served as exclusive financial advisor and Hogan Lovells International LLP served as legal advisor to CATCo. Sidley Austin LLP served as legal advisor to Markel.

About Markel Corporation

Markel Corporation is a diverse financial holding company serving a variety of niche markets. The Company’s principal business markets and underwrites specialty insurance products. In each of the Company’s businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value. Visit Markel Corporation on the web at www.markelcorp.com.

About Markel CATCo Investment Management Ltd.

Markel CATCo Investment Management Ltd. is a specialist investment management business. From its headquarters in Hamilton, Bermuda, Markel CATCo manages retrocession and traditional reinsurance portfolios for clients around the world, including financial institutions, charities, pension funds, family offices and investment funds. Markel CATCo Investment Management Ltd. is authorized and regulated by the Bermuda Monetary Authority.

Disclaimer

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Markel’s and Markel CATCo’s beliefs, plans or expectations, are forward-looking statements. These statements are based on Markel’s and Markel CATCo’s current plans, estimates and expectations. There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements. Neither Markel nor Markel CATCo assumes any obligation to update this release (including any forward-looking statements herein) as a result of new information, developments or otherwise. This release speaks only as of the date issued.Photo – http://photos.prnewswire.com/prnh/20140415/73238

CONTACT: Markel Corporation, Media, Paul Broughton, Managing Director, Marketing, 804-527-7618, [email protected]; Markel Corporation, Investors, Bruce Kay, Managing Director, Investor Relations, 804-747-0136, [email protected]; Markel CATCo Investment Management Ltd., Media, Mark Way, Investor Relations Director, +44 7786 116 991, [email protected]; Markel CATCo Investment Management Ltd., Investors, Tony Belisle, Chief Executive Officer, 508-259-1640, [email protected]

SAINT-HÉLIER, Jersey, Nov. 30, 2015 /PRNewswire-HISPANIC PR WIRE/ — Hawksford is now able to provide a full range of trust services in the Cayman Islands, having secured a Trust Licence.

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The Trust Licence, which is issued by The Cayman Islands Monetary Authority, enables Hawksford Services (Cayman) Limited to provide a full range of trust services to private and corporate clients.

Hawksford director Steve Robinson, who will help to build Hawksford’s name in the Cayman market, says the trust licence represents a milestone for the international corporate, private client and funds business. With this expansion into Cayman, Hawksford can now offer fiduciary services to clients from Europe, Asia and the Caribbean.

‘We are delighted that Hawksford now has operating capabilities in the Cayman Islands, this is a significant development for the company and our clients. Hawksford’s new Cayman business will bring scalability to how we are able to service our international client base and will open up new service areas for the company. From a structuring perspective, our broadened capabilities will be particularly complementary for our clients in the Asian, UK and US marketplaces,’ said Mr Robinson.

Hawksford’s chief executive, Maxine Rawlins, added: ‘As part of our international growth strategy, Hawksford is building a network of jurisdictions around the globe and we are delighted to extend our footprint into the Cayman Islands. Obtaining this licence reinforces our commitment to provide our clients with an international service. The operations, risk and legal teams have worked extremely hard to secure this licence, and we are looking forward to growing our capabilities in the Caribbean region.’

Hawksford is an international corporate, private client and funds business offering a range of comprehensive services to trusts, companies, foundations, partnerships, family offices and investment funds. Hawksford is backed by UK mid-market private equity firm Dunedin.

Notes to editors

About Hawksford Group: http://www.hawksford.com

Twitter: @HawksfordGroup

Hawksford is an international and award-winning corporate, private client and funds business which consistently delivers impeccable service and is focused on thinking beyond tomorrow.

Hawksford has operating capabilities in Jersey, British Virgin Islands, Cayman Islands, Hong Kong, New Zealand, Singapore, Switzerland and the United Arab Emirates and is actively seeking expansion into countries that will add further value to clients.

Contact:
Cherith Fothergill
[email protected]
+44-(0)-1534-740264

Felicia J. Persaud, ICN’s founder and CEO.

CaribPR Wire, NEW YORK, NY, Nov. 25, 2015:  “Unlocking finance for Caribbean-born developers and existing regional companies is key as governments continue to struggle to grow their economies,” says Felicia J. Persaud, CEO at Invest Caribbean Now (ICN).

With banks in the region now less bullish on lending there, ICN, the definitive private sector investment agency of the Caribbean, has teamed up with several global private lenders to offer multi-million financing for projects ranging from US$5 million and up for major projects being developed in the Caribbean including building of villas, hotel and mixed-use properties.

This comes as the KPMG 2015 Caribbean Hospitality Financing Survey found that non-banks are more bullish on the Caribbean these days, with 17 percent saying it is the perfect time to lend in the region especially in Antigua, Barbados, Jamaica, Trinidad & Tobago and Turks & Caicos.

Not to be left out, ICN is also offering access to capital for Caribbean & Hispanic small to medium enterprises in the US or Canada. The options include cash advances to existing micro-enterprises on invoices as well as low interest loans and lines of credit of between US$5,000 to $250,000 to qualified business owners seeking capital for expansion and growth.

Key projects ICN is teaming to support include hotel financing, refinancing and/or expansion; renovation, expansion and acquisition of existing hotels, building and renovating apartments or villas. Other sectors will be considered on a project by project basis.

To learn more log on now investcaribbeannow.com can partner with you contact us here or via http://www.investcaribbeannow.com/contact.html

Invest Caribbean Now promotes and pushes for the right investment opportunities in the Caribbean region; offers a concierge service for high end investors seeking to make the right connection with key opportunities, governments and other parties in any Caribbean destination; connects major real estate projects with debt financing and small entrepreneurs in the US and Canadian Diaspora with small business loans and cash advances.

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SOURCE: Invest Caribbean Now

MEDIA CONTACT:

Kathy Bronson

Communications Coordinator

Invest Caribbean Now

[email protected]

718-476-3616

Part of the audience at ICN 2015. (ICN image)

CaribPR Wire, NEW YORK, NY, Fri. Oct. 30, 2015:  Access to capital is critical to the growth of small businesses, whether in the Caribbean/Latin America US Diaspora or Canada and often many have nowhere to turn.

But true to its goal of wealth building for the region and its Diasporas, Invest Caribbean Now, the global private sector Caribbean investment agency, has teamed with several US-based organizations to expand capital access to small to medium Caribbean and Hispanic-owned enterprises in the US and Canadians Diaspora.

ICN is partnering with two top organizations to offer cash advances to existing micro-enterprises as well as low interest loans and lines of credit of between US$5,000 to $250,000 to small to medium-sized businesses.

“We are thrilled to fulfil phase one of our 2014 goal of helping to provide access to capital for Caribbean and Hispanic-owned Diaspora Enterprises,” said ICN founder Felicia J. Persaud. “Partnerships are key to our success and we continue to build this with this new service. Now it gives me hope that one day we will also be able to do this for SME’s across the Caribbean region.”

To learn more log on now to investcaribbeannow.com or contact us here or via http://www.investcaribbeannow.com/contact.html

ABOUT INVEST CARIBBEAN NOW

Invest Caribbean Now (ICN) is the definitive private sector investment agency of the Caribbean. It is based in America’s financial capital of the world, New York City. Now in its fifth year, ICN is the brainchild of Caribbean-born media entrepreneur, Felicia J. Persaud and is owned by Hard Beat Communications, Inc.

Invest Caribbean Now promotes and pushes for the right investment opportunities in the Caribbean region; offers a concierge service for high end investors seeking to make the right connection with key opportunities, governments and other parties in any Caribbean destination and connects small entrepreneurs in the Diaspora with SME loans and cash advances.

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SOURCE: Invest Caribbean Now

MEDIA CONTACT:

Kathy Bronson

Communications Coordinator

Invest Caribbean Now

[email protected]

718-476-3616

RICHMOND, Va., LONDON and HAMILTON, Bermuda, Sept. 10, 2015 /PRNewswire/ — Markel Corporation (”Markel”) (NYSE: MKL) and CATCo Investment Management Ltd. (”CATCo”) jointly announced today that they have entered into an agreement whereby Markel will acquire substantially all of the assets of CATCo. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2015. Additional terms were not disclosed.

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Upon completion of the acquisition, the business will operate as Markel CATCo Investment Management Ltd. (”Markel CATCo”). The existing CATCo management team, led by Chief Executive Officer Tony Belisle, will transition into commensurate roles at Markel CATCo and will operate the business from its Hamilton, Bermuda, headquarters under Markel’s ownership.

Richard R. Whitt, President and Co-Chief Operating Officer of Markel, commented, “We are very pleased for Tony Belisle and the entire CATCo team to join Markel. The addition of CATCo’s insurance linked investment management capabilities alongside Markel’s traditional reinsurance capabilities makes for a powerful combination. While Markel has a long and successful track record in the insurance linked securities space, the addition of the CATCo team takes our capabilities to an entirely new level. The current challenges in the reinsurance and retrocessional markets are well documented. Despite these short-term challenges, we believe that with innovative products and services the long-term future is bright.”

Tony Belisle, Chief Executive Officer of CATCo Investment Management Ltd., said, ”We are excited to join forces with Markel, a leading global specialty insurer and reinsurer which operates with a strong commitment to its core values and distinguished corporate culture. We felt this partnership offered a rare opportunity for CATCo to combine with a culturally similar organization which shares our results-oriented commitment to success and market leadership. We are confident that uniting the strength of the Markel brand and its global reach with CATCo’s differentiated product innovation capabilities will serve to improve our value proposition for investors and cedants. CATCo has grown significantly since its launch in 2010, and the agreement with Markel will allow the same management team to maintain its commitment to both client service and continual product innovation.”

Willis Capital Markets & Advisory served as exclusive financial advisor and Hogan Lovells International LLP served as legal advisor to CATCo. Sidley Austin LLP served as legal advisor to Markel.

About Markel Corporation

Markel Corporation is a diverse financial holding company serving a variety of niche markets. The Company’s principal business markets and underwrites specialty insurance products. In each of the Company’s businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value. Visit Markel Corporation on the web at www.markelcorp.com.

About CATCo Investment Management Ltd.

CATCo Investment Management Ltd. is a specialist investment management business. From its headquarters in Hamilton, Bermuda, CATCo manages approximately $2.7 billion of retrocession and traditional reinsurance portfolios for clients around the world, including financial institutions, charities, pension funds, family offices, and investment funds. CATCo Investment Management Ltd. is authorized and regulated by the Bermuda Monetary Authority. Visit CATCo Investment Management Ltd. on the web at www.catcoim.com.

Disclaimer

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Markel’s and CATCo’s beliefs, plans or expectations, are forward-looking statements. These statements are based on Markel’s and CATCo’s current plans, estimates, and expectations. There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements. Neither Markel nor CATCo assumes any obligation to update this release (including any forward-looking statements herein) as a result of new information, developments, or otherwise. This release speaks only as of the date issued.

Logo – http://photos.prnewswire.com/prnh/20140415/73238

CONTACT: Markel Corporation, Media, Paul Broughton, Managing Director, Marketing, 804-527-7618, [email protected], or Markel Corporation, Investors, Bruce Kay, Managing Director, Investor Relations, 804-747-0136, [email protected]; or CATCo Investment Management Ltd., Media, Mark Way, Investor Relations Director, +44 7786 116 991, [email protected], or CATCo Investment Management Ltd., Investors, Tony Belisle, Chief Executive Officer, 508-259-1640, [email protected]

CaribPR Wire, HAMILTON, Bermuda, April 14, 2015  James River Group Holdings, Ltd. (Nasdaq:JRVR) announced today it will release its earnings for the quarter ended March 31, 2015 after the market closes on Wednesday May 6, 2015. The Company will also host a conference call to discuss its results with analysts and investors on Thursday, May 7, 2015 beginning at 9:00am (Eastern Standard Time).

Investors may access the conference call by dialing (877) 930-8055, conference ID# 7710053, or via the Internet by going to www.jrgh.net and clicking on the “Investor Relations” link. Please visit the website at least 15 minutes early to register, download and install any necessary audio software. A replay of the call will be available at both the number above and the website until the close of business on June 5, 2015.

About James River Group Holdings, Ltd.

James River Group Holdings, Ltd. is a Bermuda-based insurance holding company which owns and operates a group of specialty insurance and reinsurance companies founded by members of our management team. The company operates in three specialty property-casualty insurance and reinsurance segments: Excess and Surplus Lines, Specialty Admitted Insurance and Casualty Reinsurance. The company tends to focus on accounts associated with small or medium-sized businesses in each of its segments. Each of the Company’s regulated insurance subsidiaries are rated “A-” (Excellent) with a “positive outlook” by A.M. Best Company.

Visit James River Group Holdings, Ltd. on the web at www.jrgh.net

CONTACT: Robert Myron

President and Chief Operating Officer

[email protected]

441-278-4583

SAO PAULO, April 2, 2015 /PRNewswire/ — Judge Daniel Carnio Costa, of the 1^st Section of Bankruptcy and Judicial Recoveries of the Court of Justice of the State of Sao Paulo, accepted yesterday the petition for Judicial Recovery placed by nine companies of OAS Group.

According to Costa’s decision, Construtora OAS, OAS S.A., OAS Imoveis S.A., SPE Gestao e Exploracao de Arenas Multiuso, OAS Empreendimentos S.A., OAS Infraestrutura S.A., OAS Investments Ltd., OAS Investments GmbH and OAS Finance Ltd. have, from now on, 60 days to submit to the creditors and suppliers the Plan for Recovery of the debts contracted until March 31, 2015.

All debts contracted as of the month of April will be fully paid. Payments of salaries and benefits of more than 100 thousand direct or indirect employees will not be affected by the process of Judicial Recovery.

The office of Alvarez & Marsal Consultoria Empresarial do Brasil was appointed as the Court-Appointed Trustee. It is the Court-Appointed Trustee’s responsibility to inspect the operations of the companies under Judicial Recovery, verify the list of creditors, chair the General Creditors’ Meeting and, finally, inspect compliance with the Judicial Recovery Plan approved by the creditors. Alvarez & Marsal will have no administrative role in any of the companies of OAS Group.

The initiative to go into Judicial Recovery was the best path found by OAS Group to negotiate its debts with creditors and suppliers due to the intense credit restriction observed since the end of last year for the companies in the infrastructure sector due to investigations at Petrobras.

“With almost 40 years of existence, OAS is compelled to take measures which allow it to continue operating in a healthy debt renegotiation process, preserving thousands of direct and indirect jobs,” said Fabio Yonamine, chairman of OAS Investimentos.

According to Diego Barreto, director of Corporate Development of Construtora OAS, the Group “will take to the negotiation of this process contributions which are very different from the ones observed in other Judicial Recoveries. A company with resources to maintain its activities, valuable assets and a team of professional managers provides clients, creditors and suppliers with a much safer environment for negotiations.”

OAS will sell some of its assets in the process of Judicial Recovery to provide safety to the investors who will take no risk of having their business contested by the creditors of the Group. The disinvestment in assets is also caused by the decision to concentrate efforts on what is its main vocation, heavy construction.

The participation of OAS S.A. in Invepar, the participation in Enseada Shipyard, OAS Empreendimentos, OAS Soluções Ambientais, OAS Oleo e Gas and OAS Defesa will be offered for sale. Arena Fonte Nova and Arena das Dunas will also be traded.

Construtora OAS goes into Judicial Recovery for technical matters, as it is already the guarantor of the Group’s loans, rather than for lack of liquidity.

“Construtora OAS bets on a professional governance, a corporate remodeling, revision of its management processes, strengthening of the compliance and internal audit areas, besides tough guidelines for reducing risks in the business conduction. The aim is making the company leaner, more agile, more competitive, focused on productivity and costs,” said Yonamine.

OAS – Comunicacao+
+ 55 11 3874-2020