Axis Capital und PartnerRe fusionieren zum weltweit fünftgrößten Rückversicherer

27.01.2015 – Die beiden Rückversicherer Axis Capital Holdings Ltd. (AXS) und PartnerRe Ltd. (PRE) wollen fusionieren. Dies gaben die beiden Unternehmen am späten Sonntagabend in New York bekannt. Als Hauptgrund für die Fusion werden vor allem Kostengründe genannt. Mit der Fusion sollen in den kommenden 18 Monaten die jährlichen Kosten um etwa 200 Mio. Dollar vor Steuern reduziert werden.

Bloomberg says:

The new company will be among the world’s five largest reinsurers, with more than ten bio. Dollar in combined policy sales. Invested assets and cash will be more than 33 bio. Dollar. The transaction “will leverage the complementary strengths of both companies,” Axis Capital Chief Executive Officer Albert A. Benchimol, who will serve as CEO of the combined firm, said in the statement. The deal will “create an organization with the size and breadth to enhance product and service offerings, maximize growth opportunities, optimize portfolios and deliver both economies of scale and capital efficiencies.”

Traditional reinsurers have been seeking deals to diversify offerings and gain scale amid increased competition from hedge funds and other investors pushing into their market. XL Group Plc agreed this month to buy Catlin Group Ltd., a Lloyd’s of London company, for about 4.2 bio. Dollar. RenaissanceRe Holdings Ltd. struck a deal in November to purchase Platinum Underwriters Holdings Ltd.

Combining will help Axis and PartnerRe compete with larger rivals like Warren Buffett’s Berkshire Hathaway Inc., Munich Re and Swiss Re AG. The merged firm also will sell specialty policies to businesses, as well as life and accident-and-health coverage. (vwh/td)

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