AIG agrees sale of Validus Re to RenRe for ~$3bn
AIG has struck a deal to sell its reinsurance business Validus Re to RenaissanceRe for ~$3bn, as the insurance giant takes another decisive step towards reshaping the group and squeezing volatility out of the portfolio.
The deal continues RenRe’s track record of reinsurance consolidation deals, which – alongside organic growth – have pushed the Bermudian into the top five of P&C reinsurers globally, with 2022 GWP of more than $12.5bn
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