Advertise on Reinsurance News

Menu

Reinsurance News

RenRe completes acquisition of Tokio Millennium Re

22nd March 2019 - Author: Luke Gallin

Bermuda-based reinsurer RenaissanceRe Holdings Ltd. (RenRe) has completed its previously announced acquisition of Tokio Millennium Re, following the receipt of all necessary regulatory approvals.

RenaissanceRe buildingThe $1.5 billion deal, which sees RenRe acquire Japanese holding company Tokio Marine’s reinsurance units, was announced in October of last year.

Commenting on the completion of the deal, RenRe’s President and Chief Executive Officer (CEO), Kevin O’Donnell said: “The acquisition of TMR accelerates our strategy and enhances RenaissanceRe’s global reinsurance leadership, product offerings and access to attractive risk.

“The bespoke structure of this transaction also strengthens our long-standing relationship with Tokio Marine Group. Our entire team is excited about the expanded opportunities that the TMR platform will bring to deliver the best underwriting solutions in the business while maximizing shareholder value.”

This acquisition provides RenRe with an expanded platform, which provides the firm with synergies and a broader footprint in global reinsurance markets.

At the same time, the deal provides RenRe with enhanced access to risk from a key Japanese trading partner and a key investor, that also provides the firm with efficient access to risk.

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous article:
Munich Re looks to SMEs and developing markets for cyber risk diversification

Global reinsurance giant Munich Re continues to grow its cyber business in-line with the market, and also remains more focused...

Close