M&A Deal Summary

Catalina Re Acquires PXRE Reinsurance Co.

On November 4, 2014, Catalina Re acquired insurance company PXRE Reinsurance Co. from Pro Global Insurance Solutions for 11M USD

Acquisition Highlights
  • This is Catalina Re’s 10th transaction in the Insurance sector.
  • This is Catalina Re’s 3rd largest (disclosed) transaction.
  • This is Catalina Re’s 3rd transaction in the United States.
  • This is Catalina Re’s 2nd transaction in Connecticut.

M&A Deal Summary

Date 2014-11-04
Target PXRE Reinsurance Co.
Sector Insurance
Buyer(s) Catalina Re
Sellers(s) Pro Global Insurance Solutions
Deal Type Divestiture
Deal Value 11M USD

Target

PXRE Reinsurance Co.

Norwalk, Connecticut, United States
PXRE Reinsurance Co. is a provider of reinsurance products and services.

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Buyer(S) 1

Buyer

Catalina Re

Hamilton, Bermuda

Category Company
Founded 2005
Sector Insurance
DESCRIPTION

Catalina Re is a Bermuda-based holding company that is licensed as a Class IV reinsurance company. Catalina Re was founded in 2005 and is based in Hamilton, Bermuda.


DEAL STATS #
Overall 10 of 16
Sector: Insurance M&A 10 of 16
Type: Divestiture M&A Deals 3 of 8
State: Connecticut M&A 2 of 2
Country: United States M&A 3 of 4
Year: 2014 M&A 2 of 3
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-25 SPARTA Insurance Holdings

Hartford, Connecticut, United States

SPARTA Insurance Holdings, Inc. provides property and casualty insurance for specialty and alternative risk programs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-17 Danielson Indemnity Co.

Long Beach, California, United States

Danielson Indemnity Co. is a provider of insurance services.

Buy -

Seller(S) 1

SELLER

Pro Global Insurance Solutions

London, United Kingdom

Category Company
Founded 2001
Sector Insurance
Employees352
DESCRIPTION

Pro Global Insurance Solutions delivers market-wide third-party servicing capability and consultancy services covering the London company and Lloyd’s markets as well as Europe and the United States. Pro supports a number of the world’s largest insurance businesses.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2014 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-16 KX Reinsurance Co.

London, United Kingdom

KX Reinsurance Company Limited is a provider of property and casualty insurance products in London.

Buy -