M&A Deal Summary

RenaissanceRe Acquires Platinum Underwriters Holdings

On March 2, 2015, RenaissanceRe acquired insurance company Platinum Underwriters Holdings for 1.9B USD

Acquisition Highlights
  • This is RenaissanceRe’s 1st transaction in the Insurance sector.
  • This is RenaissanceRe’s 2nd largest (disclosed) transaction.
  • This is RenaissanceRe’s 1st transaction in Bermuda.

M&A Deal Summary

Date 2015-03-02
Target Platinum Underwriters Holdings
Sector Insurance
Buyer(s) RenaissanceRe
Deal Type Add-on Acquisition
Deal Value 1.9B USD
Advisor(s) Goldman Sachs (Financial)
Sullivan & Cromwell (Legal)

Target

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.

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Buyer(S) 1

Buyer

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 4
Sector (Insurance) 1 of 4
Type (Add-on Acquisition) 1 of 1
Country (Bermuda) 1 of 2
Year (2015) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-07 Renaissance Reinsurance

United States

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

Sell $275M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-31 Tokio Millennium Re

London, United Kingdom

Tokio Millennium Re (UK) Ltd. is a provider of short and long tail, and specialty treaty reinsurance solutions to customers in the United Kingdom, Ireland, Africa, the Middle East, Asia, Latin America, and internationally.

Buy -