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Somers Reports First Quarter 2021 Net Income
The filing stated:
Somers Limited [“Somers” or “the Company”, BSX: SOM.BH], a financial services investment holding company, today announces that following the record net income of $190.1 million for the first quarter of the year, the Company is pleased to report net income of $13.0 million for the quarter ended March 31, 2021.
Net Asset Value [“NAV”] per share at the end of March was $28.69, while shareholders’ equity was $625.0 million, an increase of 48.1% from the start of the financial year. Gearing remains modest at 12.8%.
Overview of the quarter ended March 31, 2021:
Shareholders’ equity of $625.0 million as at March 31, 2021 [September 30, 2020: $422.1 million].
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HAMILTON, Bermuda, Feb. 10, 2021 /PRNewswire/ AK Jensen Group Limited ( AKJ ), the leading provider of turnkey trading and infrastructure solutions for fund managers, today announced the acquisition of RiskCap Ltd. ( RiskCap ) by AKJt Holdings Limited ( AKJt ), an affiliated company.
RiskCap was formed in 2013 and offers services including governance, risk management, and regulatory and AML/CFT compliance. Clients include electronic money institutions and payment institutions, MiFID firms, insurance firms and funds with a collective €5 billion in assets under management. The transaction, which is subject to regulatory approval, will allow AKJ and AKJt to expand its product suite by integrating RiskCap s expertise into existing full-service solutions for funds trading in both traditional and digital assets.