Covéa in exclusive talks to buy PartnerRe, confirms Exor
Italian investment company Exor has confirmed that it has entered into "exclusive discussions" with French mutual insurer Covéa regarding a possible all-cash acquisition of Bermuda-based reinsurer PartnerRe.
“These discussions are ongoing and there is no certainty that they will result in a transaction,” Exor said in a statement.
Exor added that it will not comment further on the matter until the discussions have been finalised.
Exor acquired PartnerRe in March 2016 for $6.9 billion following a lengthy takeover battle with rival AXIS, which had also sought to acquire the Bermuda-based re/insurer.
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
9 April 2020 Exor boss tells shareholders in a ‘letter from lockdown’ that the first interactions between the Covéa and PartnerRe teams have been very positive.