PartnerRe rejects the Exor purchase offer

The Board of Directors of PartnerRe has dismissed the friendly purchase offer proposed by Exor, the Italian holding of the Agnelli family.

The Bermudian reinsurer thus reaffirms maintaining its initial fusion project with Axis Capital Holdings. It should be noted that, in January, PartnerRe and Axis announced their merger.

With premiums amounting to 10 billion USD, the merger of PartnerRe with Axis would give birth to the fifth global reinsurance group.

Exor, which valued PartnerRe at 6.4 billion USD took note of the decision but stressed that it is up to the shareholders of the Bermudian reinsurer to choose the best offer.

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