Scottish Re Group ( SCT) surged after the Bermuda-based life insurer said it has received bids from a number of potential buyers.

In July, the insurer hired two Wall Street firms to explore a possible sale. The company took the move after announcing that CEO Scott E. Willkomm had resigned and the firm expected to post a loss of about $130 million for the second quarter. The news caused shares of Scottish Re to lose 75% of the value in a single day. In Monday trading, shares gained $1.09, or 11.71%, to $10.40.

Asta Funding ( ASFI) gained after the Englewood Cliffs, N.J.-based asset management and liquidation company said its board approved a special cash dividend of 40 cents a share.

The special dividend, which will be paid on Nov. 1 to shareholders of record on Sept. 29, is in addition to the firm's regular quarterly dividend of 4 cents a share. Also, the company said it made portfolio purchases of about $1 billion in face value, for a purchase price of about $29 million during the fourth quarter. Shares gained 42 cents, or 1.31%, to $32.40.

CRM ( CRMH) slipped after the Poughkeepsie, N.Y.-based insurer said it was buying Embarcadero Insurance for about $45 million. Embarcadero, through its wholly owned subsidiary, Majestic Insurance Co., writes workers' compensation insurance for medium- to large-size businesses. Shares fell 38 cents, or 4.55%, to $8.01.

If you liked this article you might like

Be Like a Samurai -- Do Kendo

Be Like a Samurai -- Do Kendo

Investors Pull More Money Out of Stock Funds

Investors Pull More Money Out of Stock Funds

Investors Keep Pulling Money From Stock Funds

Investors Keep Pulling Money From Stock Funds

Investors Pull Money From Stock Funds

Investors Pull Money From Stock Funds

How to Make Heads and Tails of Coin-Op Machine Collecting

How to Make Heads and Tails of Coin-Op Machine Collecting