7 January 2020Insurance

Tokio Marine to sell stake in RenaissanceRe

Tokio Marine & Nichido Fire Insurance Co is selling its entire stake in Bermudian reinsurance firm RenaissanceRe.

RenaissanceRe has announced an underwritten public secondary offering of 1,739,071 common shares by Tokio Marine. The 3.9 percent stake in the company is worth around $334 million.

Tokio Marine will receive all of the net proceeds from this offering.

Morgan Stanley & Co. LLC is acting as the sole underwriter for the offering.

Already registered?

Login to your account

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

More on this story

Tokio Marine closes Pure Group acquisition

10 February 2020 The acquired company specialises in the US high net worth (HNW) insurance market.

Tokio Marine Holdings to establish insurance joint venture in Brazil

7 January 2020 Tokio Marine Seguradora is expected to invest $370m in the venture.

Tokio Marine Holdings lays out its CSR goals and achievements

29 November 2019 ‘Promoting efforts to solve societal issues will lead to the group’s sustainable growth.’

More articles

Delegated authorities ride E&S growth, despite ‘double-edged’ risks

Rokstone launches $10m facility to cover global perils with NormanMax

CFC continues transaction liability expansion with new European office

WTW teams up with Kayna and Vibrant to enhance cybersecurity insurance

Britannia P&I to seek minimum 7.5% rate gain from members in 2025/6

Root Platform launches programme to upskill insurance industry coders

Property looks perma-hard, but never care-free, says Zurich’s Greco

Allstate faces $4.8bn YTD cat losses

Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze