RenRe’s acquisition of Platinum moves closer

Make text smaller Make text larger

RenaissanceRe Holdings Ltd’s acquisition of fellow Bermuda reinsurer Platinum Underwriters Holdings Ltd has moved a big step closer.

RenRe has cleared all regulatory hurdles necessary to complete the deal, the company announced.

Meanwhile, Platinum has announced a $10 special dividend payment in connection with the deal to its shareholders, who will vote on the merger on February 27.

RenRe said that if Platinum shareholders vote in favour, the deal is expected to close on March 2.

Platinum said the special dividend, which will only apply if shareholders approve the takeover, will be paid on the day the deal closes.

Platinum shares fell 0.2 per cent to $76.57 in New York trading on Friday, while RenRe shares fell 0.6 per cent to $103.82.

You must be registered or signed-in to post comment or to vote.

Published Feb 16, 2015 at 8:00 am (Updated Feb 16, 2015 at 9:51 am)

RenRe’s acquisition of Platinum moves closer

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    Today's Obituaries