Talks on possible sale of PartnerRe confirmed


Discussions about the possible sale of PartnerRe have been confirmed by the company that owns the Bermudian-based reinsurer.

Exor, the Italian investment firm controlled by the Agnelli family that paid about $6.9 billion for PartnerRe in 2016, in a statement said: “Exor confirms that it has entered into exclusive discussions with Covéa regarding a possible all-cash acquisition of PartnerRe.

“These discussions are ongoing and there is no certainty that they will result in a transaction. Exor will refrain from further comment until the final outcome of the discussions is known.”

Covéa is a French insurance company.

Last week, The Insurance Insider cited an unnamed London banking source in its report of discussions about the possible sale of the reinsurer.

On Friday, The Royal Gazette contacted PartnerRe, which has offices on Pitts Bay Road, and was told it does not comment on speculation in the press. We also contacted Exor to inquire about the matter.

The discussions with Covéa were confirmed by Exor in its statement, which was released today.

According to a Reuters report a source “familiar with the matter” said the deal could be worth about $9 billion.

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

Published Feb 9, 2020 at 2:26 pm (Updated Feb 9, 2020 at 2:43 pm)

Talks on possible sale of PartnerRe confirmed

What you
Need to
Know
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

    • "The most effective politician of 2019"
    • David Burt
    • 8%
    • Wayne Caines
    • 9%
    • Craig Cannonier
    • 3%
    • Zane DeSilva
    • 10%
    • Curtis Dickinson
    • 6%
    • Michael Dunkley
    • 33%
    • Nick Kempe
    • 27%
    • Leah Scott
    • 4%
    • Total Votes: 11029
    • Poll Archive

    Today's Obituaries

    eMoo Posts