Announced
Financials
Sources
Tags
Bermuda
Friendly
Acquisition
Majority
property and casualty insurance
Cross Border
Private Equity
Property and Casualty Insurance
Private
Pending
Single Bidder
Synopsis
Premia, a reinsurance group, agreed to acquire Armour Re, a Bermuda-based P&C legacy reinsurer, from Aquiline Capital Partners. Financial terms were not disclosed. In conjunction with the acquisition, an Aquiline-led investor group is making a growth equity investment in Premia. Between the equity raise and the sidecar raised at the end of 2020, Premia has significant fresh capital to execute on opportunities in the fast-growing legacy market.
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