Bermuda-based RenaissanceRe Holdings has completed the acquisition of Platinum Underwriters Holdings, for around $1.9bn.


RenaissanceRe first announced the deal in November 2014, and received all required regulatory approvals for the transaction last month.

The company completed the acquisition after obtaining the approval from Platinum shareholders at a special general meeting held on 27 February.

RenaissanceRe Holdings president and CEO Kevin Donnell said: "The combination of RenaissanceRe and Platinum marks an important milestone for our company, benefiting our expanded client base by providing additional products and underwriting expertise, two strong underwriting platforms in the US and increased scope and market presence.

"With the acquisition successfully completed, we are a stronger, broader-reaching RenaissanceRe, offering more underwriting, product and capital solutions to both existing clients and new clients."

Platinum Underwriters offers property, casualty and finite risk reinsurance services through reinsurance brokers for a diverse clientele across the globe.

The company operates through its principal subsidiaries in Bermuda and the US.

RenaissanceRe provides reinsurance services, including catastrophe reinsurance and specialty reinsurance, as well as Lloyd’s, including reinsurance and insurance business written through RenaissanceRe Syndicate 1458.

Image: Platinum Underwriters provides property, casualty and finite risk reinsurance services. Photo: courtesy of renjith krishnan/