RenaissanceRe Gets Regulatory Nod to Acquire Platinum Underwriters

RenaissanceRe Holdings Ltd. announced it has received all regulatory approvals required in connection with its previously announced acquisition of Platinum Underwriters Holdings, Ltd.

The transaction remains subject to approval by the shareholders of Platinum at Platinum’s previously announced shareholder meeting scheduled to be held on February 27, 2015.

If the transaction is approved by Platinum’s shareholders, the parties expect the transaction to close on the morning of Monday, March 2, 2015.

(The Bermuda-based RenaissanceRe’s business consists of three reportable segments: Catastrophe Reinsurance, Specialty Reinsurance and Lloyd’s, which includes reinsurance and insurance business written through RenaissanceRe Syndicate 1458.)

Source: RenaissanceRe Holdings Ltd.

Topics Mergers & Acquisitions Legislation Underwriting