RenaissanceRe completed the acquisition of Tokio Marine’s reinsurance platform for $1.5bn.

RenaissanceRe, a global provider of reinsurance and insurance, completed the acquisition of Tokio Millennium Re and Tokio Millennium Re (UK), reinsurance companies, from Tokio Marine, a multinational insurance holding, for $1.5bn. “The acquisition of TMR accelerates our strategy and enhances RenaissanceRe’s global reinsurance leadership, product offerings and access to attractive risk. The bespoke structure of this transaction also strengthens our long-standing relationship with Tokio Marine Group. Our entire team is excited about the expanded opportunities that the TMR platform will bring to deliver the best underwriting solutions in the business while maximizing shareholder value,” Kevin J. O’Donnell, RenaissanceRe President and Chief Executive Officer.