Hashtag: #RenRePlatinumDeal
RenaissanceRe Completes Platinum Acquisition
[Updated] Bermuda-based RenaissanceRe Holdings Ltd. today [March 2] announced that it has completed its acquisition of Platinum Underwriters Holdings Ltd. Kevin J. O’Donnell, President and Chief Executive Officer of RenaissanceRe, commented: “The combination of RenaissanceRe and Platinum marks an important milestone for our company, benefiting... Read more of this article
Platinum Shareholders Approve RenRe Deal
Platinum Underwriters Holdings, Ltd. announced that at a special general meeting of shareholders held earlier today [Feb 27], all proposals related to the Company’s pending acquisition by RenaissanceRe Holdings Ltd. were overwhelmingly approved by the Company’s shareholders. “I’d like to thank our shareholders for their support... Read more of this article
RenaissanceRe’s Definitive Election Deadline
Bermuda-based RenaissanceRe Holdings Ltd. announced the definitive election deadline of 5:00 p.m. Eastern Time on February 26, 2015 for shareholders of Platinum Underwriters Holdings, Ltd. to make an election to receive [i] 0.2960 RenaissanceRe common shares and $35.96, [ii] $66.00, subject to proration, or [iii] 0.6504 RenaissanceRe common shares,... Read more of this article
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... Read more of this article
Platinum Underwriters Declares Special Dividend
Platinum Underwriters Holdings, announced today [Feb 10] that its Board of Directors has, subject to certain conditions, declared a quarterly dividend of $0.08 per common share. The quarterly dividend would be payable on March 31, 2015 to shareholders of record on March 2, 2015. The quarterly dividend is conditioned on Platinum’s previously announced... Read more of this article
Platinum To Hold Special Shareholder Meeting
Platinum Underwriters Holdings, Ltd. has scheduled a special meeting of its shareholders for February 27, 2015, in connection with Platinum’s pending acquisition by RenaissanceRe Holdings Ltd. RenaissanceRe previously announced it will acquire Platinum in a deal worth approximately $1.9 billion, with the transaction between the two Bermuda-based... Read more of this article
Fitch: RenRe Deal Could Spark Further M&A
RenaissanceRe’s agreement to acquire Platinum Underwriters Holdings could spur merger and acquisition activity among reinsurers, Fitch Ratings says. RenaissanceRe recently announced it will acquire Platinum in a deal worth approximately $1.9 billion, with the transaction between the two Bermuda-based re/insurers expected to close in the first... Read more of this article
Platinum & RenRe Ratings Placed Under Review
Following the announcement that RenaissanceRe will purchase Platinum Underwriters, A.M. Best has placed RenaissanceRe under review with “negative implications,” and placed Platinum under review with “developing implications.” The aggregate consideration for the transaction between the two Bermuda-based re/insurers is $1.9 billion,... Read more of this article
RenRe To Acquire Platinum For $1.9 Billion
RenaissanceRe Holdings and Platinum Underwriters Holdings confirmed that RenaissanceRe will acquire Platinum in a deal worth approximately $1.9 billion, with the transaction expected to close in the first half of 2015. The aggregate consideration for the transaction between the two Bermuda-based re/insurers will consist of 7.5 million RenaissanceRe... Read more of this article
