M&A Deal Summary

RenaissanceRe Acquires Validus Re

On May 22, 2023, RenaissanceRe acquired insurance company Validus Re from AIG for 3.0B USD

Acquisition Highlights
  • This is RenaissanceRe’s 4th transaction in the Insurance sector.
  • This is RenaissanceRe’s largest (disclosed) transaction.
  • This is RenaissanceRe’s 2nd transaction in Bermuda.

M&A Deal Summary
Date 2023-05-22
Target Validus Re
Sector Insurance
Buyer(s) RenaissanceRe
Sellers(s) AIG
Deal Type Divestiture
Deal Value 3.0B USD

Target

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.

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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 4 of 4
Sector (Insurance) 4 of 4
Type (Divestiture) 3 of 3
Country (Bermuda) 2 of 2
Year (2023) 1 of 1
Size (of disclosed) 1 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 -

Seller(S) 1

SELLER

AIG

New York, New York, United States
Category Company
Founded 1919
Sector Insurance
Employees25,000
Revenue 47.3B USD (2023)
DESCRIPTION

AIG is an international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. American International Group was incorporated in 1919 and is based in New York City.

DEAL STATS #
Overall 19 of 21
Sector (Insurance) 15 of 17
Type (Divestiture) 18 of 19
Country (Bermuda) 2 of 2
Year (2023) 2 of 3
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-01 Crop Risk Services

Decatur, Illinois, United States

Crop Risk Services is a primary crop insurance general agent with 2022 gross written premiums of approximately $1.2 billion. Crop Risk Services is based in Decatur, Illinois.

Sell $240M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 Laya Healthcare

Little Island, Ireland

Laya Healthcare is a health insurance provider that offers life, dental, travel insurance, and health wellness coverage. Laya Healthcare was formed in 1995 and is based in Little Island, Ireland.

Sell €650M
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