Covéa today announced that it has completed the acquisition of PartnerRe Ltd. from Exor for
a total cash consideration of €7.9Bn.


A leading franchise in reinsurance, PartnerRe has a strong presence in North America, Europe
and the Asia-Pacific region and a broadly diversified portfolio. Consolidating its financial
capacity, the operation will boost its growth and its positioning in the reinsurance market.
The acquisition of PartnerRe enters into Covéa’s long-term strategy, anticipating changes in
the global insurance industry. It gives access to enhanced diversification in terms of product
range, business lines and geographies in which the Group operates, thus strengthening its
position across the entire risk management value chain.


Covéa and Exor will continue their cooperations.


Thierry Derez:
“This acquisition enables Covéa to combine the expertise and support capabilities of the French
market leader with those of a global risk management operator.
With this greater diversification, our Group will strengthen its position as a key player in risk
management, covering the entire value chain. This major step forward in the Group’s
development is aligned with our two hundred-year history of adapting to risk transformation. It
will enable us to continue to keep apace with changes in society and the expectations of our
clients.”


Jacques Bonneau:
“This transaction is a significant step and opens a new chapter in PartnerRe’s history, bringing
together our best-in class, global reinsurance expertise with one of the leaders in property and
casualty insurance in Europe. Covéa’s deep financial strength and strong ratings position
PartnerRe as a sustainable business partner and, together, our diversified business footprint and
deep expertise create a new global leader in the reinsurance industry.”

Source: Covéa

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