Devondale /
FG Reinsurance Division
Devondale to acquire FG Reinsurance Division in agreed sale
Source for the buyer and target: FG Nexus Inc.
For the buyer and target.
“Pursuant to the Transaction Agreement and the October 2025 Agreement, FGRH agreed to sell the FG Reinsurance Division to Devondale (the “Sale Transaction”) in exchange for (1) the release of $3.3 million of collateral that FGRH had posted in connection with certain reinsurance contracts of the FG Reinsurance Division; (2) the payment of $1 million in cash; and (3) a 40% equity interest in Devondale (collectively the “Consideration”).”
Published 28 Oct 2025
Open the sourceWhat happened
FG Reinsurance Holdings, LLC agreed to sell the FG Reinsurance Division to Devondale. The transaction includes the release of $3.3 million in collateral, $1 million in cash and a 40% equity interest in Devondale. [01]
Closing is conditioned on approval by the Cayman Islands Monetary Authority and satisfaction of other closing conditions. The filing anticipates closing in the fourth quarter of 2025. [01]
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Devondale to acquire FG Reinsurance Division in agreed sale
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