European Commission approves RenaissanceRe's acquisition of AIG's reinsurance business

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RenaissanceReThe Bermudan group RenaissanceRe has been given the green light by the European Commission to acquire the reinsurance activities of American International Group (AIG). These include Validus Re and its consolidated subsidiaries (AlphaCat Managers and Talbot Underwriting).

After an in-depth examination, the Commission has decided that this transaction does not raise any competition concerns.

In May 2023, RenaissanceRe signed a definitive agreement with AIG to acquire Validus Re and its consolidated subsidiaries for a total of 2.985 billion USD.

The transaction is expected to be finalized during the fourth quarter of 2023.

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Mon, 04/09/2023 - 17:02
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