Asia Capital Re was set up in 2006 with a large capital from Temasek Holdings and other shareholders. At that time, it was considered to be a bold venture and a key player in the reinsurance world.
I understand that it had a very difficult time and could have incurred large losses. The financial statement for the year ended 31 March 2015 showed an accumulated loss of US $75 million against a share capital of US$765 million. It lost 10% of its capital in 10 years. Did the shareholders receive any dividend during the past years?
It has been put up for sale for a price tag of $1 billion.
http://www.insuranceinsider.com/formal-auction-underway-for-asia-capital-re
This seemed to be another bad investment for Temasek Holdings.
I understand that it had a very difficult time and could have incurred large losses. The financial statement for the year ended 31 March 2015 showed an accumulated loss of US $75 million against a share capital of US$765 million. It lost 10% of its capital in 10 years. Did the shareholders receive any dividend during the past years?
It has been put up for sale for a price tag of $1 billion.
http://www.insuranceinsider.com/formal-auction-underway-for-asia-capital-re
This seemed to be another bad investment for Temasek Holdings.
No comments:
Post a Comment