Magazine date:
Jul 2023 
The 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 [4] 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.