Covea, a French mutual insurance company, and Exor, a diversified holding company, agreed to invest €1.5bn ($1.8bn) in PartnerRe, a Bermuda-based reinsurer. “After having decided definitively to continue our project to build a major independent reinsurers, we’re more than happy now to have been able to agree with Covéa this constructive cooperation extending also to other fields of our activity,“ John Elkann, Exor Chairman and Chief Executive Officer.