Divestiture • Insurance

AXA Reinsurance Co. Acquires USF Re Insurance Co.

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

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

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M&A Deal Summary

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

Target Company

USF Re Insurance Co.

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 Overview 1

Buyer

AXA Reinsurance Co.

United States

Category Company
Sector Insurance
DESCRIPTION

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


Deal Context for Buyer #
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 Profile 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 Context for Seller #
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 Co.

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 Co.

Longwood, Florida, United States

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

Buy -