ALEA Alea

 

TIDMALEA 
 
RNS Number : 0863M 
Alea Group Holdings(Bermuda) Ltd 
18 May 2010 
 

 
 
 
 
 
 
 
18 May 2010 
 
                       Alea Group Holdings (Bermuda) Ltd 
                          Interim Management Statement 
 
 
HAMILTON, Bermuda - Alea Group Holdings (Bermuda) Ltd. ('Alea' or 'the Group') 
issues its interim management statement for the period from 1 January 2010 to 
today's date. 
Performance during the period 
Reported insurance and reinsurance claims to date are generally in line with 
current reserving assumptions as Alea continues the orderly run-off of its 
balance sheet.  Operating expenses to date are generally in line with 
expectations.  Alea continues to seek ways to efficiently scale its operating 
costs in line with movements in its total liabilities and assets. 
 
During the period, the Group experienced an improvement in the valuations of its 
non-agency US mortgage-backed securities, consistent with overall market 
conditions.  As of the date of this statement, ratings and valuations of the 
Group's non-agency US mortgage-backed securities have not required any change in 
the Group's buy and hold strategy. 
Other events in the period 
On 13 May 2010, the Group announced the appointment of Jeffrey R. Rosenthal as 
an Executive Director of Alea with effect from 12 May 2010 and the appointment 
of Mark Cloutier as Non-Executive director of Alea with effect from 12 May 2010. 
Financial calendar 
Alea expects to announce its results for the six months ending 30 June 2010 on 
26 August 2010.* 
[*provisional date] 
Annual General Meeting 
The Company's Annual General Meeting is scheduled for 17 June 2010 in Hamilton 
Bermuda. 
 
 
For further information, please contact: 
 
Jeff Rosenthal 
+1 441 296 9150 
 
Sheel Sawhney 
+1 860 258 6524 
 
Financial Dynamics 
Robert Bailhache 
Nick Henderson 
+44 20 7269 7114 
 
#### 
 
 
Past performance cannot be relied upon as a guide to future performance. 
 
Certain statements made in this document that are not based on current or 
historical facts are forward-looking in nature including, without limitation, 
statements containing the words "believes," "anticipates," "plans," "projects," 
"intends," "expects," "estimates," "predicts," and words of similar import. All 
statements other than statements of historical facts including, without 
limitation, those regarding the Group's financial position, business strategy, 
plans and objectives of management for future operations (including development 
plans and objectives) are forward-looking statements. Such forward-looking 
statements involve known and unknown risks, uncertainties and other important 
factors that could cause the actual results, performance or achievements of the 
Group to be materially different from future results, performance or 
achievements expressed or implied by such forward-looking statements. In 
particular, forecasting of reserves for future losses is based on historical 
experience and future assumptions. As a result, they are inherently subjective 
and may fluctuate based on actual future experience and changes to current or 
future trends in the legal, social or economic environment. Such forward-looking 
statements are based on numerous assumptions regarding the Group's present and 
future business strategies and the environment in which the Group will operate 
in the future. These forward-looking statements speak only as at the date of 
this document or other information concerned. Alea Group Holdings (Bermuda) Ltd 
expressly disclaims any obligations or undertaking (other than reporting 
obligations imposed on us in relation to our listing on the London Stock 
Exchange) to disseminate any updates or revisions to any forward-looking 
statements contained herein to reflect any changes in the Group's expectations 
with regard thereto or any change in events, conditions or circumstances on 
which any such statement is based. References in this paragraph to the Group are 
to Alea Group Holdings (Bermuda) Ltd and its subsidiaries from time to time. 
 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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