Mergers and acquisitions in the global reinsurance sector will be limited into 2023 amid investor concerns over macroeconomic risks and heightened catastrophe losses linked to climate change, according to Fitch Ratings. “We expect reinsurers to prioritise pricing, risk management and …
French mutual insurer Covéa and EXOR, a holding company controlled by the Agnelli family, have officially agreed to a delayed deal in which Covéa will acquire the global reinsurer PartnerRe for cash consideration of $9.0 billion (approximately €7.8 billion). The …
The Agnelli family’s EXOR NV agreed to sell its PartnerRe reinsurance unit to France’s Covéa for $9 billion, reviving a transaction that collapsed at the onset of the pandemic last year. Talks broke down in May 2020 when EXOR rejected …
EXOR, the holding company of Italy’s Agnelli family, has restarted talks with French insurer Covéa over a possible sale of reinsurer PartnerRe, Il Sole 24 Ore reported on Saturday, after the deal was scrapped last year due to the pandemic. …
This edition of International People Moves covers appointments at three insurers: Covéa Insurance, Berkshire Hathaway Specialty Insurance and Swiss Re Corporate Solutions. A summary of these new hires follows here. Covéa Insurance, the UK underwriting business of French mutual insurer …
Covéa, the French non-life mutual, is interested in acquiring AXA XL’s reinsurance business, AXA Re, in a deal that could be valued at €5 billion, according to press reports. The news story, which originally appeared in Bloomberg, “is credible,” according …
French mutual insurer Covéa and reinsurer SCOR finally laid down their legal swords this week – opting instead for “peaceful relations” by signing a binding settlement agreement. The agreement, which “implies no admission of liability on either side,” is designed …
France’s financial markets regulator dismissed market abuse charges, which had been filed against SCOR’s Chairman and CEO Denis Kessler by the reinsurer’s largest shareholder, Covéa. The investigation “does not support allegations of market abuse,” said a statement issued by “Autorité …
Barclays Plc has been dragged into a bitter feud between two French insurers over its role in a failed hostile takeover bid. SCOR SE is suing Barclays in London for breach of confidence when the bank advised Covéa on its …
Italy’s EXOR said on Monday that French insurer Covéa had agreed to invest a total of 1.5 billion euros ($1.8 billion), partly in entities managed by PartnerRe, after walking away from a deal to buy the reinsurer from EXOR earlier …
