Eli Global buys units of 'Ponzi' tainted Beechwood

Global Bankers Insurance Group, a subsidiary of conglomerate Eli
Global, has been revealed as the buyer of Beechwood investment
management units, while its Caymans-based reinsurance operation has
been placed in receivership.
Beechwood sold its Beechwood Bermuda Investment Holdings and
Beechwood OMNIA units to the Eli Global division last week, sources
have told Reuters. The Beechwood group, which reinsures life and
annuity products, had about $2.4bn in assets at the end of
2015.
The group put it