Latest PartnerRe Headlines
All the headlines from our PartnerRe Topic Page, ordered by recency.
Shareholders to Vote on Proposed Merger of AXIS Capital, PartnerRe on July 24
Jun 2 2015 // AXIS Capital Holdings Ltd. and PartnerRe Ltd. have scheduled special shareholder meetings to vote on the proposed merger of AXIS Capital and PartnerRe. AXIS Capital’s special meeting of shareholders in connection...
PartnerRe Board Slammed by Activist Hedge Fund for Rejecting EXOR Bid
May 22 2015 // Sandell Asset Management Corp., the activist hedge-fund firm run by Tom Sandell, said PartnerRe Ltd. directors hurt shareholders by pushing a merger with AXIS Capital Holdings Ltd. rather than talks with a hostile...
PartnerRe Shareholders to Decide on AXIS Bid; Board Rejects EXOR Offer
May 22 2015 // PartnerRe Ltd. said in a statement on Friday that its suitor EXOR has rejected any negotiations to raise its $6.8 billion hostile offer. As a result, the Bermuda-based PartnerRe said it will ask shareholders to vote on the...
EXOR Refuses to Sweeten $6.8 Billion Offer to Acquire PartnerRe
May 22 2015 // EXOR SpA, the investment vehicle of Italy’s Agnelli family, reiterated that it won’t sweeten a $6.8 billion offer to buy PartnerRe Ltd. as the reinsurer demands a higher price to abandon a merger deal with AXIS...
AXIS Says Termination Fee Would Soften Blow if PartnerRe Deal Collapses
May 21 2015 // AXIS Capital Holdings Ltd. Chief Executive Officer Albert Benchimol, who’s working to complete a merger with PartnerRe Ltd., said his company can withstand a collapse of the deal and that a termination fee would...
Update: PartnerRe Says $6.8B EXOR Offer Unacceptable; Open to Negotiations
May 20 2015 // PartnerRe Ltd. said it would engage in discussions with hostile bidder EXOR SpA to seek a better offer than the $6.8 billion proposal that the target company called “unacceptable.” “While we believe that...
IRS Scrutiny of Offshore Tax Avoidance Repels Bids for Bermuda Reinsurers
May 19 2015 // The IRS’s scrutiny of tax avoidance in offshore locations has discouraged bidders from taking over reinsurers, potentially reducing the companies’ value. Montpelier Re Holdings Ltd. and Platinum Underwriters...
Italy’s Agnellis: Billionaire Family Behind PartnerRe Takeover Battle
May 13 2015 // The billionaire Agnellis will become more interested in hurricane damage and less dependent on sales of Alfa Romeo sports cars and CNH tractors if their $6.8 billion bid for reinsurer PartnerRe Ltd. is...
PartnerRe Is Reviewing Enhanced Rival Bid From EXOR
May 13 2015 // Bermuda-based PartnerRe Ltd. has confirmed it has received a revised offer from EXOR SpA to acquire all of the outstanding common shares of the company for $137.50 per share in cash. Consistent with its fiduciary duties...
EXOR Raises Bid for PartnerRe by 5.8%, Aiming to Overcome Rival AXIS Offer
May 12 2015 // EXOR SpA upped the ante in the takeover battle for PartnerRe Ltd., raising its bid by 5.8 percent to overcome a rival offer from AXIS Capital Holdings Ltd. EXOR, the investment vehicle of Italy’s billionaire Agnelli...
AXIS Said to Value PartnerRe Deal by Viewing Montpelier, Catlin Acquisitions
May 11 2015 // AXIS Capital Holdings Ltd., seeking to complete a merger with PartnerRe, is highlighting the prospects for growth of a combined company. AXIS projects the post-merger market valuation will reach a level akin to those of...
Italy’s EXOR to Consider Increasing $6.4B Offer for PartnerRe: Sources
May 11 2015 // Italy’s EXOR SpA will consider raising its $6.4 billion offer for reinsurer PartnerRe Ltd at a board meeting on Tuesday, two sources told Reuters. The Italian holding company, controlled by the Agnelli family, made...
AXIS Capital Could Attract Offer From Arch Capital: Report
May 7 2015 // AXIS Capital Holdings Ltd. climbed in New York trading on Wednesday after “Insurance Insider” reported that the company, which has agreed to merge with PartnerRe Ltd., could draw a bid from Arch Capital Group...
EXOR Bid for PartnerRe Still Has Legs as Shareholders Weigh Offers: Real M&A
May 5 2015 // PartnerRe Ltd. is betting the value of a merger with AXIS Capital Holdings Ltd. is worth more in the long run than an extra few dollars a share now. Shareholders may not agree. The Bermuda-based reinsurer on Monday chose a...
EXOR Says Remains ‘Fully Committed’ to Spurned PartnerRe Offer
May 4 2015 // Italy’s EXOR said on Monday it remained fully committed to its $6.4 billion offer for PartnerRe after the Bermuda-based reinsurer rejected its attempt to trump a rival bid by AXIS Capital Holdings. EXOR’s...
PartnerRe Rejects EXOR Offer; Confirms AXIS Deal w/ Enhanced Terms
May 4 2015 // Bermuda-based PartnerRe Ltd. announced that its Board of Directors has rejected the unsolicited proposal by EXOR S.p.A. to acquire PartnerRe at a price of $130 per share, and reconfirmed its commitment to the planned...
AXIS Reports Q1 Operating Income of $136M on Low Catastrophe Losses
Apr 30 2015 // Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the first quarter of 2015 of $156 million, or $1.54 per diluted common share, compared with $137 million, or $1.24 per...
PartnerRe Ducks Questions in Call on EXOR’s $6.4 Billion Offer
Apr 29 2015 // PartnerRe Ltd., the reinsurer that agreed to combine with AXIS Capital Holdings Ltd., said it would refuse to answer questions on its first-quarter earnings call about the unsolicited $6.4 billion buyout offer from EXOR...
PartnerRe Reports $231.7 Million Q1 Net Earnings; $150.5 Operating
Apr 28 2015 // Bermuda-based PartnerRe Ltd. reported net income of $231.7 million, or $4.76 per share for the first quarter of 2015. The figure includes net after-tax realized and unrealized gains on investments of $100.3 million, or...
EXOR Shuns Hedge Fund Strategy With $6.4 Billion Buyout Plan of PartnerRe
Apr 17 2015 // The Agnelli family’s EXOR SpA, known for investments in cars and soccer, is dismissing the prevailing reinsurance strategies as it seeks to push into the industry with a $6.4 billion takeover. EXOR is shunning the...
