Catlin to net £85mn from Box stake sale to Aioi

Catlin has agreed a deal to sell its investment in Box Innovation
Group (BIG) to Aioi Nissa Dowa Insurance Company of Europe,
generating £85mn of cash proceeds.
The (re)insurer said last Wednesday (17 December) it was in
advanced negotiations to sell its interest in BIG, which owns
telematics auto insurance specialist Insure the Box.
Catlin revealed the potential sale as it confirmed it was also
in talks over a £2.5bn takeover by XL Group.
And in a statement today, the...