French Insurer Covea In Talks To Buy Bermuda Reinsurer

Law360, London (February 10, 2020, 1:36 PM GMT) -- Italian investment giant Exor has entered into exclusive talks with a French insurer to discuss a potential sale of its reinsurance subsidiary, PartnerRe.

Exor SpA — a European investment company controlled by Italy’s Agnelli family, which holds Fiat Chrysler and Ferrari — confirmed on Sunday that it has been approached by Covea, a French insurer, about a potential all-cash sale of PartnerRe.

But Exor said there was no guarantee the talks would lead to a deal and would not comment further on the potential sale.

Exor bought Partner Re, a reinsurer based in Bermuda, for $6.9 billion in 2015 after chasing...

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