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Endurance now owns a 25 percent share of the Blue Capital Global Reinsurance Fund - worth $50mn - after the completion of its takeover of Montpelier Re.
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Italian investment firm Exor and PartnerRe have agreed on a $6.9bn sale of the reinsurer, as the carrier terminated its agreement to merge with Axis Capital.
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European insurance powerhouse Zurich is considering a bid for its smaller rival RSA, the Swiss carrier revealed this morning (28 July).
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Start-up Chinese investment company China Minsheng Investment (CMI) is to buy White Mountains reinsurance subsidiary Sirius in a $2.2bn deal, the company announced today.
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Axis said it had halted work on its integration with PartnerRe after the reinsurer announced that it would enter into takeover talks with Exor.
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PartnerRe will seek to open up negotiations with Exor after the investment company submitted a $140.50 per share cash offer for the reinsurer yesterday.
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The run of stealth (re)insurance M&A deals continued in the past month, with the focus moving to the primary market as Ace agreed a $28.3bn acquisition of Chubb
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M&A activity has taken off in the reinsurance market over the past year - with integration at some merged companies well underway while the fraught battle between Axis and Exor for PartnerRe continues
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It is understood Catco founder Tony Belisle is keen for the company to tie up with a reinsurer as the Bermudian investment manager works towards a sale, but industry observers remain sceptical that this will be the outcome of the process.
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Axis has lifted the pre-closing dividend offered to PartnerRe investors by more than 50 percent, taking the total face value of its bid to $138.08 per share.
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Analysts have said that Exor's newly improved offer terms for PartnerRe could be sufficient to swing the crucial shareholder vote against the rival Axis bid later this month.
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Reinsurers will be watching the fallout from the Ace-Chubb deal for signs on the extent of the role the recently launched ABR Re vehicle will play in the combined operation