Business Insurance is reporting today that Bermuda-based runoff consolidator Catalina Holdings (Bermuda) Ltd. has signed an agreement to acquire Alea Group Holdings (Bermuda) Ltd. from FIN Acquisition Ltd., a subsidiary of investment funds managed by affiliates of Fortress Investment Group L.L.C.They stated: “The terms of the deal were not disclosed.”Business Insurance also reported that at June 30, 2013, Alea had total assets of $540 million, gross reserves of $270 million and net asset value of $103 million, and that Fortress had acquired Alea, a property/casualty reinsurer, in 2007 after the reinsurer went into runoff in 2005.Last week, The Insurance Insider reported that their sources had suggested that Fortress would look to Catalina, one of the “the usual suspects” in the legacy acquisition market which included White Mountains, Fairfax and Enstar, as a potential buyer.They also reported that Catalina has had previous involvement with the Alea group: “ ... buying its UK arm at a slight discount to book value in mid-2009. As part of the major restructure, Alea also combined its European and Bermuda operations.”They added: “Alea Group Holdings is headquartered in Bermuda and now has two risk-bearing entities: the US-based Alea North America and Swiss-based Alea Services ...“Legacy players with existing Bermudian and US platforms would likely benefit the most from an acquisition in terms of synergies and expense savings,” they projected.