RenaissanceRe Holdings Ltd. to Acquire Tokio Millennium Re in $1.5 Billion Transaction
Accelerates Strategy and Enhances Global Reinsurance Leadership
Transaction Immediately Accretive to RenaissanceRe’s Shareholders
PEMBROKE,
The agreement has been unanimously approved by the Boards of Directors of both companies. The transaction is expected to close in the first half of 2019 and is subject to customary closing conditions and regulatory approvals. No shareholder approval is required.
Under the terms of the agreement, if closing tangible book value is unchanged from
In connection with the transaction, Tokio Marine has agreed to provide
In addition,
Kevin O’Donnell, President and CEO of
Mr. O’Donnell added: “We are also honored that
BofA Merrill Lynch is acting as financial advisor to
Conference Call and Webcast:
About
Cautionary Statement Regarding Forward-Looking Statements
Any forward-looking statements made in this Press Release reflect the current views of
View source version on businesswire.com: https://www.businesswire.com/news/home/20181030006141/en/
Investor Contact:
441-239-4830
or
Media Contacts:
441-239-4932
or
Kekst CNC
Source:
Genworth Financial Announces Third Quarter 2018 Results
RenaissanceRe Reports Net Income Available to Common Shareholders of $32.7 Million for the Third Quarter of 2018, or $0.82 Per Diluted Common Share
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News