RenaissanceRe Holdings Buys Managing Agent

Bermuda-based RenaissanceRe Holdings Ltd. has agreed to acquire Spectrum Partners Ltd. in a stock deal that could be worth approximately $7 million at current prices. The company did not disclose financial terms.

Spectrum has as its principal operating subsidiary Spectrum Syndicate Management Ltd., a Lloyd’s managing agent. No other terms were announced for the transaction, which will see the establishment of RenaissanceRe Syndicate 1458, for which Spectrum serves as the managing agent.