Covéa to buy PartnerRe for $9bn

Covéa CEO Thierry Derez

European investment group Exor has agreed to sell PartnerRe to French mutual insurer Covéa for $9bn, plus a $50m dividend to be paid before closing. The all-cash deal is expected to complete by the end of this year. Exor brought Partner Re for $6.72bn in a hostile takeover during 2016, with the reinsurer initially favouring a merger deal with Bermudan…

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