M&A Deal Summary

AXA Reinsurance Acquires USF Re Insurance

On December 30, 1999, AXA Reinsurance acquired insurance company USF Re Insurance from Folksamerica Holding Company for 16M USD

Acquisition Highlights
  • This is AXA Reinsurance’s 1st transaction in the Insurance sector.
  • This is AXA Reinsurance’s largest (disclosed) transaction.
  • This is AXA Reinsurance’s 1st transaction in the United States.
  • This is AXA Reinsurance’s 1st transaction in California.

M&A Deal Summary

Date 1999-12-30
Target USF Re Insurance
Sector Insurance
Buyer(s) AXA Reinsurance
Sellers(s) Folksamerica Holding Company
Deal Type Divestiture
Deal Value 16M USD

Target

USF Re Insurance

Costa Mesa,, California, United States
USF Re Insurance Company is a provider of property and casualty reinsurance and insurance services.

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Buyer(S) 1

Buyer

AXA Reinsurance

United States

Category Company
Sector Insurance
DESCRIPTION

AXA Reinsurance Co. underwrites property, casualty, marine, and aviation insurance products.


DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (1999) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Folksamerica Holding Company

New York, New York, United States

Category Company
Founded 1985
Sector Insurance
DESCRIPTION

Folksamerica Holding Company, Inc., parent company of Folksamerica Reinsurance Company, a multi-line broker market reinsurer, is a wholly owned subsidiary of White Mountains Insurance Group, Ltd.


DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (1999) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-06-28 USF Re Insurance

Costa Mesa,, California, United States

USF Re Insurance Company is a provider of property and casualty reinsurance and insurance services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-03-31 PCA Property and Casualty

Longwood, Florida, United States

PCA Property and Casualty Co. is a provider of property and casualty insurance products.

Buy -