Gerova Financial Group Ltd (GFC)

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GEROVA Financial Group, Ltd., formerly Asia Special Situation Acquisition Corp., is an international reinsurance company focused on the life and annuity reinsurance markets, in addition to a property and causality business. Through its insurance subsidiaries, the Company underwrites annuity and life insurance risks. The investment portfolio derived from its insurance reserves, or its float, is allocated across traditional fixed income and equity investments, as well as asset classes. It focuses on engaging in active investment strategies, such as directly making secured loans to middle market companies in select industries underserved by banks. In January 2010, it acquired an 81.5% interest in Amalphis, the parent company of Allied Provident.