M&A Deal Summary

QBE Acquires Renaissance Reinsurance

On March 7, 2011, QBE acquired insurance company Renaissance Reinsurance from RenaissanceRe for 275M USD

Acquisition Highlights
  • This is QBE’s 25th transaction in the Insurance sector.
  • This is QBE’s 9th largest (disclosed) transaction.
  • This is QBE’s 11th transaction in the United States.

M&A Deal Summary
Date 2011-03-07
Target Renaissance Reinsurance
Sector Insurance
Buyer(s) QBE
Sellers(s) RenaissanceRe
Deal Type Divestiture
Deal Value 275M USD

Target

Renaissance Reinsurance

United States
Renaissance Reinsurance Ltd. is a provider of property catastrophe and specialty reinsurance coverage for insurers and reinsurers worldwide.

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Buyer(S) 1

Buyer

QBE

Sydney, Australia
Category Company
Founded 1886
Sector Insurance
Employees13,479
Revenue 17.4B USD (2023)
DESCRIPTION

QBE is a general insurance and reinsurance companies, with operations in all the key insurance markets.The company underwrites commercial and personal lines classes of business through operations in 45 countries. QBE was founded in 1886 and is based in Sydney, Australia.

DEAL STATS #
Overall 25 of 29
Sector (Insurance) 25 of 29
Type (Divestiture) 5 of 5
Country (United States) 11 of 13
Year (2011) 1 of 4
Size (of disclosed) 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-26 United Security Insurance

Aurora, Colorado, United States

United Security Insurance Company is a provider of insurance services to inland marine and specialty property sectors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-04-01 CUNA Mutual Australia Holding Pty

Australia

CUNA Mutual Australia Holding company is a provider of insurance services to credit unions and building societies.

Buy -

Seller(S) 1

SELLER

RenaissanceRe

Pembroke, Bermuda
Category Company
Founded 1993
Sector Insurance
Employees925
Revenue 9.1B USD (2023)
DESCRIPTION

RenaissanceRe is a provider of reinsurance and insurance. The Company's business consists of three reportable segments: (1) Catastrophe Reinsurance, which includes catastrophe reinsurance and certain property catastrophe joint ventures managed by the Company's ventures unit; (2) Specialty Reinsurance, which includes specialty reinsurance and certain specialty joint ventures managed by the Company's ventures unit; and (3) Lloyd's, which includes reinsurance and insurance business written through RenaissanceRe Syndicate 1458. RenaissanceRe Holdings was founded in 1993 and is based in Pembroke, Bermuda.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-02 Platinum Underwriters Holdings

Waterloo House 100 Pitts Bay Road, Bermuda

Platinum Underwriters Holdings Ltd. is a provider of property, casualty and finite risk reinsurance coverages, through reinsurance brokers, to a diverse clientele on a worldwide basis.

Buy $1.9B
Mergr

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