French mutual insurer Covéa has completed the acquisition of global reinsurer PartnerRe from EXOR, the Agnelli family owned investment and holding company, for a total cash consideration of $9.3 billion (€8.6bn).
After signing a Memorandum of Understanding (MoU) in October 2021, after an initial deal was terminated in May 2020 owing to the COVID-19 pandemic, the European Commission gave its approval in April for Covéa to purchase Bermuda-based PartnerRe.
