Covéa and Exor sign a final agreement to acquire PartnerRe

After more than a year of exclusive negotiations, Covéa has signed, on 16 December 2021, a final agreement with Exor for the acquisition of its subsidiary PartnerRe [4]. The transaction is worth 9 billion USD to be paid in cash.

Pending regulatory approval, the transaction is expected to be finalized in the first half of 2022.

After the closing of the transaction, the mutual group and the financial holding of the Agnelli family intend to continue their reinsurance partnership. To do so, Exor will acquire participations held by Covéa in reinsurance vehicles managed by PartnerRe for 725 million USD.

Covéa, Exor and PartnerRe will also keep on investing jointly in the funds managed by the holding.