PartnerRe acquires Aurigen
On October 20, 2016, PartnerRe Ltd. ("PartnerRe") and Aurigen Capital Limited ("Aurigen") announced a definitive agreement for PartnerRe to acquire 100% of the outstanding ordinary shares of Aurigen. The acquisition will be financed through the utilization of PartnerRe's excess cash on hand and no debt or equity financing will be required.
The acquisition is subject to customary closing conditions including the receipt of required regulatory approvals. It is expected to be completed by the first quarter of 2017.
Aurigen is a North American life reinsurance company focused on individual life insurance policies. The company's vision is to develop as a leading life reinsurer providing innovative and customized risk and capital management solutions to enterprises exposed to biometric risks, such as mortality and morbidity, and other related risks.
PartnerRe is a leading global reinsurer that helps insurance companies reduce their earnings volatility, strengthen their capital and grow their businesses through reinsurance solutions.
Further information can be found on PartnerRe's website.