M&A Deal Summary

Everest Reinsurance Acquires AFC Re

On December 22, 2000, Everest Reinsurance acquired insurance company AFC Re from AFC Holdings for 17M USD

Acquisition Highlights

This is Everest Reinsurance’s 1st transaction in the Insurance sector.
This is Everest Reinsurance’s largest (disclosed) transaction.
This is Everest Reinsurance’s 1st transaction in Bermuda.

M&A Deal Summary
Date	2000-12-22
Target	AFC Re
Sector	Insurance
Buyer(s)	Everest Reinsurance
Sellers(s)	AFC Holdings
Deal Type	Divestiture
Deal Value	17M USD

Target

AFC Re

Bermuda

AFC Re Ltd., a annuity/life reinsurer.

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Buyer(S) 1

Buyer

Everest Reinsurance

Hamilton, Bermuda

Category	Company
Founded	2000
Sector	Insurance

DESCRIPTION

Everest Reinsurance (Bermuda) Ltd., provides reinsurance to property and casualty and life insurers in both the Bermuda and international markets.

DEAL STATS	#
Overall	1 of 1
Sector (Insurance)	1 of 1
Type (Divestiture)	1 of 1
Country (Bermuda)	1 of 1
Year (2000)	1 of 1
Size (of disclosed)	1 of 1

Seller(S) 1

SELLER

AFC Holdings

Bermuda

Category	Company
Sector	Insurance

DESCRIPTION

AFC Holdings Ltd., provides insurance services.

DEAL STATS	#
Overall	1 of 1
Sector (Insurance)	1 of 1
Type (Divestiture)	1 of 1
Country (Bermuda)	1 of 1
Year (2000)	1 of 1
Size (of disclosed)	1 of 1