Market Update: Covéa Acquisition of PartnerRe
On July 12, 2022, French mutual insurance group Covéa completed the acquisition of PartnerRe Ltd (PartnerRe) from European based investment holding company EXOR (listed on Milan stock exchange). For Covéa, the acquisition accelerates its long-term strategy to evolve with the global re/insurance market via international growth and diversification of products, risks, and geographies. It gives Covéa scale into the global reinsurance business and creates a top-tier European diversified re/insurance group. PartnerRe is expected to continue to operate as it has and on a standalone basis, and there is minimal overlap between the two organizations.