RenRe Receives Regulatory Approvals For Deal

RenaissanceRe Holdings Ltd. announced that 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,” the company said.

“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 aggregate consideration for the transaction between the two Bermuda-based re/insurers will consist of 7.5 million RenaissanceRe common shares, valued at approximately $761 million, and $1.16 billion of cash.

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