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.
RenaissanceRe said its syndicate operations began last month, with underwriting of property and specialty business beginning June 1.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
