RenaissanceRe Holdings Ltd. announced that it has completed its acquisition of Platinum Underwriters Holdings Ltd. the acquisition changed into at the beginning introduced on November 24, 2014.
“The combination of RenaissanceRe and Platinum marks an critical milestone for our employer, reaping benefits our expanded purchaser base by using providing extra merchandise and underwriting information, two robust underwriting platforms in the united states, and improved scope and marketplace presence,” in step with Kevin J. O’Donnell, president and chief government officer of RenaissanceRe.
“We anticipate the transaction to be accretive to ebook cost in line with percentage and profits in keeping with percentage, in addition to boom the lengthy-term value of our enterprise for shareholders. With the acquisition effectively finished, we are a stronger, broader-achieving RenaissanceRe, offering extra underwriting, product and capital answers to each current customers and new customers.”
The finishing touch of the purchase follows the receipt of all important regulatory approvals and approval of the transaction by Platinum shareholders, which become received at a unique trendy assembly of Platinum shareholders hung on February 27, 2015.
effective as of market near on March 2, Platinum shares will cease buying and selling on the the big apple inventory change.