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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 26, 1997
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Terra Nova (Bermuda) Holdings Ltd.
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(Exact name of registrant as specified in its charter)
Bermuda 1-13832 Not Applicable
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(State or other (Commission File (I.R.S. Employer
jurisdiction of Number) Identification No.)
incorporation
Richmond House, 2nd Floor, 12 Par-La-Ville Road,
Hamilton HM 11, Bermuda
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (441) 292-7731
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None
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS.
On August 26, 1997, Terra Nova (Bermuda) Holdings Ltd. issued a news
release, a copy of which is attached hereto.
ITEM 7(c). EXHIBITS.
News release dated August 26, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TERRA NOVA (BERMUDA) HOLDINGS LTD.
August 28, 1997 By: /s/ Jean M. Waggett
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(Date) Name: Jean M. Waggett
Title: Secretary
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EXHIBIT INDEX
Exhibit Description
99.1 News release of Terra Nova (Bermuda) Holdings Ltd. dated
August 26, 1997.
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[LETTERHEAD OF TERRA NOVA HOLDINGS LTD.]
NEWS RELEASE
TERRA NOVA (BERMUDA) HOLDINGS LTD.
TERRA NOVA GROUP COMPLETES
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$75,000,000 BOND ISSUE
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Hamilton, Bermuda, August 26, 1997 - Terra Nova Insurance (UK) Holdings plc
today completed the issue to institutional buyers of $75,000,000 7.2% Senior
Notes due 2007 fully and unconditionally guaranteed on a senior basis by Terra
Nova (Bermuda) Holdings Ltd. (NYSE:TNA)
The Senior Notes will mature on August 15, 2007. Interest on the Senior Notes
will accrue at the rate of 7.2% per annum and will be payable semi-annually on
each February 15 and August 15 commencing February 15, 1998.
Commenting on the issue, John Riddick, Chairman of Terra Nova Insurance (UK)
Holdings, said, "This Senior Note issue will provide additional capital
resources to our UK holding company, the parent of our three insurance
businesses operating in the London Market and at Lloyd's". He continued "This
additional capital puts the Terra Nova Group in an increasingly strong position
to respond to the insurance and reinsurance needs of our brokers and clients."
The Senior Notes have not been and will not be registered under the U.S.
Securities Act and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements.
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Terra Nova (Bermuda) Holdings Ltd. is the holding company for four wholly owned
operating entities - Terra Nova Insurance Company Limited in the UK, Terra Nova
(Bermuda) Insurance Company Ltd., Terra Nova Capital Limited and Octavian
Syndicate Management Limited, which manages seven Lloyd's syndicates in which
the company has a participation. Through these subsidiaries the company
underwrites a diverse property, casualty, marine and aviation insurance and
reinsurance business on a worldwide basis.
For further information contact:
Mr. John Riddick Mr. William J. Wedlake
Chairman Senior Vice President and CFO
Terra Nova Insurance (UK) Holdings plc Terra Nova (Bermuda) Holdings Ltd.
Terra Nova House c/o Terra Nova House
41-43 Mincing Lane 41-43 Mincing Lane
London EC3R 7SP London EC3R 7SP
England England
Tel: 011-44-171-369-5100 Tel: 011-44-171-369-5153
Fax: 011-44-171-369-5099 Fax: 011-44-171-369-5150