HAMILTON, Bermuda, Jan. 02, 2018 (GLOBE NEWSWIRE) -- Syncora Holdings Ltd. ("SHL") today announced, effective December 31, 2017, the successful merger of its wholly owned subsidiary, Syncora Capital Assurance Inc. (“SCAI”), with and into its wholly owned subsidiary, Syncora Guarantee Inc. ("SGI"), with SGI being the surviving entity. The merger, which required regulatory approval and third party consents, alleviates potential liquidity issues at SCAI without adding additional risk to SGI, and provides a more cost-effective and efficient organizational structure for the SHL corporate family.
About Syncora Holdings Ltd.
Syncora Holdings Ltd. (OTC:SYCRF) is a Bermuda-domiciled holding company. Syncora Guarantee Inc. is a wholly-owned subsidiary of Syncora Holdings Ltd. For additional information, please visit www.syncora.com.
Syncora Holdings Ltd.
Important Information and Forward Looking Statements
This press release contains statements about future results, plans and events that may constitute "forward-looking" statements. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These risks and uncertainties include, but are not limited to, the factors described in the Company's historical filings with the NYDFS, and in the Company's and Syncora Guarantee Inc.'s GAAP and statutory financial statements, as applicable, posted on its website at www.syncora.com. Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements are made.
Source: Syncora Holdings Ltd.