M&A Deal Summary

RenaissanceRe Acquires Tokio Millennium Re AG

On October 31, 2018, RenaissanceRe acquired insurance company Tokio Millennium Re AG from Tokio Marine Holdings

Acquisition Highlights
  • This is RenaissanceRe’s 3rd transaction in the Insurance sector.
  • This is RenaissanceRe’s 1st transaction in Switzerland.

M&A Deal Summary

Date 2018-10-31
Target Tokio Millennium Re AG
Sector Insurance
Buyer(s) RenaissanceRe
Sellers(s) Tokio Marine Holdings
Deal Type Divestiture

Target

Tokio Millennium Re AG

Zurich, Switzerland
Tokio Millennium Re AG operates as a reinsurance company that writes property, casualty, and specialty solutions in Switzerland and internationally.

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Buyer(S) 1

Buyer

RenaissanceRe

Pembroke, Bermuda

Category Company
Founded 1993
Sector Insurance
Employees945
Revenue 11.6B USD (2024)
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 3 of 4
Sector: Insurance M&A 3 of 4
Type: Divestiture M&A Deals 2 of 3
Country: Switzerland M&A 1 of 1
Year: 2018 M&A 2 of 2
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-22 Validus Re

Pembroke, Bermuda

Validus Re is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned subsidiaries, Validus Reinsurance, Ltd. and Talbot Holdings Ltd. The company is a Bermuda-based reinsurer focused on short-tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group primarily operating within the Lloyd's insurance market through Syndicate 1183. Validus Re was founded in 2005 and is based in Pembroke.

Buy $3.0B

Seller(S) 1

SELLER

Tokio Marine Holdings

Tokyo, Japan

Category Company
Founded 2002
Sector Insurance
Employees51,436
Revenue 7.58T JPY (2025)
DESCRIPTION

Tokio Marine Holdings is an entity that engages in non-life and life insurance, and financial and general businesses worldwide. Tokio Marine Holdings was founded in 2002 and is based in Tokyo, Japan.


DEAL STATS #
Overall 2 of 2
Sector: Insurance M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
Country: Switzerland M&A 1 of 1
Year: 2018 M&A 2 of 2
PREVIOUS 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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-03 Privilege Underwriters

New York, New York, United States

Privilege Underwriters, Inc. is a U.S. insurance group specialized in the U.S. High Net Worth (“HNW”) insurance market, through TMHD’s wholly-owned subsidiary, HCC Insurance Holdings, Inc. (“TMHCC”) (hereinafter: “the Acquisition”).

Buy -