RenaissanceRe Gets Regulatory Nod to Proceed with Tokio Millennium Re Purchase

RenaissanceRe Holdings Ltd. announced it has received all regulatory approvals required in connection with its planned acquisition of Tokio Marine Holdings’ reinsurance platform.

The deal was first announced on Oct. 30, 2018, when RenRe said it had agreed to pay approximately $1.5 billion to buy Tokio Millennium Re AG and Tokio Millennium Re (UK) Ltd. (collectively known as TMR).

RenaissanceRe anticipates closing the transaction as soon as possible, subject to the satisfaction of customary closing conditions.

Source: RenaissanceRe

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RenaissanceRe to Acquire Tokio Millennium Re in $1.5 Billion Deal