Reinsurance News
Exor
Blockchain-powered reinsurer Re raises $14 million seed round
3rd October 2022
Re, a blockchain-powered reinsurance company, has raised $14 million in seed-round funding to build a decentralised system for investors which will allow them to gain exposure to “a massive and uncorrelated asset class” that is insurance premiums. Tribe Capital, Defy, Exor, Stratos, Framework, Morgan Creek Digital and SiriusPoint participated in the ... Read the full article
Covéa completes deal to purchase PartnerRe from EXOR
13th July 2022
French mutual insurer Covéa has completed the acquisition of global reinsurer PartnerRe from EXOR, the Agnelli family owned investment and holding company, for a total cash consideration of $9.3 billion (€8.6bn). After signing a Memorandum of Understanding (MoU) in October 2021, after an initial deal was terminated in May ... Read the full article
Exor bumps up price of PartnerRe by €328m
25th March 2022
Exor has increased the sales price for PartnerRe by €328m. Last year, the firm made a deal with Covéa to sell PartnerRe for $9bn. However, Exor said, in announcing its board of directors approving its 2021 figures, that the price had risen. Exor wrote: “The agreed cash consideration of $9.0bn to ... Read the full article
Covéa’s $9bn acquisition of PartnerRe from Exor progresses
17th December 2021
EXOR, the Agnelli family owned investment and holding company and Covéa, a French mutual insurer, have now signed a definitive agreement for the sale of reinsurer PartnerRe to Covéa for $9 billion. It was announced in late October that renewed talks between the parties had led to a Memorandum of ... Read the full article
EXOR and Covéa sign MoU for $9bn sale of reinsurer PartnerRe
29th October 2021
EXOR, the Agnelli family owned investment and holding company and Covéa, a French mutual insurer, have entered into a Memorandum of Understanding (MoU) under which Covéa would acquire global reinsurer PartnerRe for $9 billion (€7.7 billion). We wrote last week that discussions between EXOR and Covéa had reportedly resumed over ... Read the full article
EXOR & Covéa reported in talks over PartnerRe sale again
24th October 2021
According to reports, EXOR, the Agnelli family owned investment and holding company, is back at the negotiating table with French insurance group Covéa over the possible sale of reinsurance firm PartnerRe. Discussions between EXOR and Covéa are reported to have resumed in recent weeks, with Italian business newspaper Il Sole 24 ... Read the full article
PartnerRe’s 2020 performance validates decision to retain company, says Exor
6th April 2021
In its most recent annual letter to shareholders, Agnelli family owned holding company Exor has said that its decision not to sell PartnerRe last year was validated by the reinsurer's earnings and balance sheet resilience. In March 2020, Exor and Covéa entered into a Memorandum of Understanding (MoU) under which Read the full article
Exor CFO Vellano succeeds Elkann on PartnerRe’s Board of Directors
18th February 2021
Bermuda domiciled reinsurer PartnerRe has announced that Enrico Vellano, the Chief Financial Officer (CFO) of Exor, will succeed John Elkann as a representative on the PartnerRe Board of Directors, effective February 18th, 2021. Vellano's professional career began in 1992 with Arthur Andersen. Three years later, he joined SAI Assicurazioni where he ... Read the full article
Covéa to invest €1.5bn with EXOR & PartnerRe managed reinsurance vehicles
4th August 2020
French insurer Covéa has entered into a €750 million investment cooperation with EXOR and, at the same time, has signed a €750 million reinsurance cooperation agreement with Bermuda-based reinsurer, PartnerRe. Covéa group is set to allocate €750 million over 2021 - 2023 for investment opportunities alongside the EXOR group, one of ... Read the full article
Speculation returns that Covéa could bid again for SCOR
13th May 2020
Following French insurer Covéa's decision to pull out of its previously-agreed deal to purchase PartnerRe from Exor, speculation around a potential renewed bid for SCOR has resurfaced. As we reported earlier today, the acquisition of reinsurer PartnerRe by Covéa has been cancelled, after owner EXOR declined to renegotiate the price ... Read the full article
EXOR boss rallies shareholders as COVID-19 looms over big deals
9th April 2020
The boss of Agnelli family owned holding company EXOR expects the spirit and resolve of his companies to ensure they emerge stronger when the coronavirus pandemic passes. “These have been challenging days and weeks for us all and we know the ripples from this crisis will likely continue for some time,” John ... Read the full article
Covéa committed to PartnerRe acquisition despite COVID-19 impacts: reports
30th March 2020
Despite the global COVID-19 coronavirus pandemic having a significant impact on European countries, driving meaningful and widespread financial market volatility, Covéa has reportedly said that it remains committed to its deal with Exor to acquire reinsurer PartnerRe. In early March, Covéa and Exor announced the signing of a Memorandum of Understanding ... Read the full article
Covéa to acquire PartnerRe from EXOR for $9bn
4th March 2020
EXOR, the Agnelli family owned holding company, has reached an agreement with French insurance group Covéa over the sale of PartnerRe. The pair have entered into a Memorandum of Understanding (MoU) under which Covéa has agreed to acquire PartnerRe for a total cash consideration of $9 billion, plus a cash dividend ... Read the full article
Exor confirms talks with Covéa on rumoured $9bn PartnerRe sale
10th February 2020
Partner Re, the Bermuda-based reinsurance firm, is said to be the subject of discussions over a $9 billion potential sale between its current owner the Agnelli family-owned Exor and French insurance group Covéa. Already rumoured, Exor has now confirmed that PartnerRe is the subject of sale talks. The still rumoured price of ... Read the full article
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.
