Latest PartnerRe Headlines
All the headlines from our PartnerRe Topic Page, ordered by recency.
Best Downgrades PartnerRe and Subs Ratings; Remains under Review
Aug 5 2015 // A.M. Best announced that it has downgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-”...
AXIS Agrees to Terminate PartnerRe Merger; to Receive $315 Million Breakup Fee
Aug 3 2015 // AXIS Capital Holdings Limited was apparently prepared to lose out on its merger with Partner Re. The company announced, soon after the deal with EXOR was announced that it “has accepted a request from PartnerRe Ltd....
Update: EXOR to Acquire PartnerRe After Scrapping Deal with AXIS
Aug 3 2015 // EXOR SpA, the Agnelli family’s investment company, agreed to buy PartnerRe Ltd. for about $6.9 billion in its biggest single acquisition in more than a century after the reinsurer scrapped a deal with rival AXIS...
PartnerRe ‘Now Willing’ to Open Talks with EXOR: Sources
Jul 30 2015 // PartnerRe Ltd, the reinsurance company that has a $6.6 billion merger agreement with AXIS Capital Holdings, has indicated that it is now willing to negotiate a new deal with rival suitor EXOR, SpA, according to people...
PartnerRe, M&A Focused, Suffers Large Investment Losses in Q2
Jul 28 2015 // PartnerRe has enough on its plate juggling a proposed merger with AXIS Capital Holdings Ltd. and an unsolicited bid from the Italian investment firm EXOR SpA. Now there is a sizable second-quarter loss with which to...
PartnerRe Investors Should Vote Against Merger with AXIS: Glass Lewis
Jul 28 2015 // PartnerRe Ltd. investors should vote against a planned merger with rival reinsurer AXIS Capital Holdings Ltd., proxy adviser Glass Lewis & Co. said in a recommendation that’s a victory for hostile bidder EXOR...
PartnerRe Holders Should Reject Merger with AXIS, Favor EXOR Deal, ISS Says
Jul 27 2015 // PartnerRe Ltd. investors should reject a planned merger with rival reinsurer AXIS Capital Holdings Ltd. and instead opt for a bid of more than $6.7 billion from Italy’s EXOR SpA, ISS Proxy Advisory Services said in a...
AXIS CEO Halts Merger Activities as PartnerRe Seeks to Negotiate with EXOR
Jul 22 2015 // AXIS Capital Holdings Ltd. and PartnerRe Ltd. halted preparations for their planned merger after PartnerRe said it is seeking to negotiate with hostile bidder EXOR SpA. “As a result of this latest news, we have...
Update: PartnerRe Reverses Stance, Seeks Talks with Hostile Bidder EXOR
Jul 21 2015 // PartnerRe Ltd., the reinsurer that agreed to merge with AXIS Capital Holdings Ltd., said it will enter negotiations with hostile bidder EXOR SpA after the Italian company’s latest cash offer for more than $6.7...
Update: EXOR Lifts PartnerRe Bid, Breaking Elkann Vow on Final Offer
Jul 20 2015 // EXOR SpA has raised its hostile bid for PartnerRe Ltd. months after saying it had made its final offer to break up the reinsurer’s merger with AXIS Capital Holdings Ltd. The latest proposal adds a special dividend of...
Timeline: Sweetened AXIS Bid Brings Battle for PartnerRe to Boiling Point
Jul 20 2015 // The tussle between AXIS Capital Holdings Ltd. and EXOR SpA for control of Bermuda-based reinsurer PartnerRe Ltd. could be drawing to a close after a bidding war that began four months ago. AXIS and PartnerRe improved the...
Update: AXIS Capital, PartnerRe Sweeten Deal with Higher Special Dividend
Jul 16 2015 // Specialty insurer and reinsurer AXIS Capital Holdings Ltd and PartnerRe Ltd agreed to sweeten the terms of their merger agreement to fend off a rival bid from Italy’s EXOR SpA. The companies agreed on Thursday to...
PartnerRe Weighs New Deal Terms with AXIS to Fend Off EXOR’s Rival Offer
Jul 13 2015 // PartnerRe Ltd., seeking to fend off a hostile $6.8 billion cash bid from EXOR SpA, is weighing whether it can arrange new terms with rival reinsurer AXIS Capital Holdings Ltd. to preserve their planned merger. The two...
Hedge Fund Sandell Criticizes PartnerRe for Shunning $6.8B EXOR Offer
Jul 10 2015 // Sandell Asset Management Corp., the activist hedge-fund firm, amplified its criticism of PartnerRe Ltd. for shunning the unsolicited $6.8 billion takeover offer from EXOR SpA that would break up the reinsurer’s...
AXIS & PartnerRe Consider Sweetening $6.2B Merger Agreement: Sources
Jul 9 2015 // Reinsurers AXIS Capital Holdings Ltd and PartnerRe Ltd are considering tweaking their $6.2 billion merger agreement in a bid to fend off a $6.8 billion offer for PartnerRe by EXOR SpA, people familiar with the matter...
PartnerRe’s Ex-CEO: Shareholders Should Vote Against AXIS Merger Plan
Jul 6 2015 // PartnerRe Ltd.’s former Chief Executive Officer Patrick Thiele said the reinsurer’s shareholders should vote against a planned merger with AXIS Capital Holdings Ltd. and called the cash offer from Italy’s...
AXIS Capital Not Engaged in Buyout Talks with Arch – Sources
Jun 19 2015 // AXIS Capital Holdings Ltd. has not communicated with any potential acquirer, including Arch Capital Ltd., since it engaged in merger talks with competitor PartnerRe Ltd last fall, people familiar with the matter said on...
AXIS Share Price Climbs on Speculation It Is Potential Takeover Target
Jun 16 2015 // AXIS Capital Holdings Ltd., the insurer that agreed to merge with PartnerRe Ltd., jumped in New York trading on speculation that the deal could fall apart, which could put AXIS in play to be taken over by another...
Update: Bermuda Court Rules in Favor of PartnerRe; EXOR Responds
Jun 8 2015 // The Supreme Court of Bermuda has denied EXOR’s request to obtain shareholder information from PartnerRe, the reinsurer that is seeking to merge with AXIS Capital Holdings and avoid a hostile takeover from EXOR...
EXOR Files Suit to Get PartnerRe’s Shareholder List; Takeover Battle Heats Up
Jun 4 2015 // EXOR, the Turin, Italy-based investment company and a suitor in the ongoing takeover battle of PartnerRe, filed a lawsuit on June 1 in the Supreme Court of Bermuda, seeking to obtain PartnerRe’s list of shareholders...
