RenRe Acquires Validus From AIG For $3 Billion, Becoming P&C’s Top Five Reinsurer – Reinsurance News
RenaissanceRe, the Bermuda-based reinsurer/reinsurer, aims to become a top 5 global property and casualty reinsurer by acquiring Validus and all of its subsidiaries from AIG Global for approximately $3 billion. RenaissanceRe (RenRe) is set to raise capital to complete this significant acquisition, with an offering of 6.3 million launched shares, which could increase to $1.44 …