RenaissanceRe Completes $1.5B Acquisition of Tokio Millennium Re

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Renaissancere holdings ltd. Announced it has concluded its acquisition of tokio marine holdings’ reinsurance platform for $1.5 billion in cash and renaissancere common shares.

The acquisition of tokio millennium re ag and tokio millennium re (uk) ltd. (collectively referred to as tmr). Changed into in the beginning introduced on oct. 30, 2018. The final touch of the deal follows the receipt of all important regulatory approvals.
“the acquisition of tmr quickens our strategy and complements renaissancere’s international reinsurance management, product offerings and get admission to to attractive risk,” stated kevin j. O’donnell, president and chief government officer of renaissancere.

“the bespoke structure of this transaction additionally strengthens our long-status courting with tokio marine institution. Our entire group is excited about the multiplied opportunities that the tmr platform will carry to deliver the great underwriting solutions within the enterprise while maximizing shareholder price,” he brought.

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