Castlewood Holdings Limited, of Warwick, R.I., said it was appointed the runoff manager for Stonewall Insurance Company and Seaton Insurance Company.
Both Stonewall and Seaton are owned by Duke Place Holdings, a Bermuda-domiciled investment firm that specializes in the purchase of runoff companies. They have now been redomiciled to Rhode Island.
According to data available through National Underwriter's Highline Data Service, Duke Place also owns Unione Italiana Reinsurance Company, Cavell Insurance Company, both based in the United Kingdom, and Cirrus Reinsurance Company in Norway.
Both Seaton and Stonewall were placed in runoff in the early 1990's for asbestos and other environmental claims.
In a management discussion, Duke Place said the administration of the two companies would be officially transferred on April 1 from Cavell Management Services, owned by Duke Place.
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