Axis/Partner Re pledge to return $750m to shareholders

If the proposed merger of Bermuda-based Axis and PartnerRe completes shareholders will receive $750 million.

This is the pledge of the companies in an investor presentation, which was filed with the Securities and Exchange Commissions (SEC). This is in addition to the $560 million dividend offered to PartnerRe’s investors.

By the end of 2017, the combined company expects to return as much as $2.2 billion to shareholders through buybacks and dividends, equivalent to 100 percent of operating earnings.

In addition, the joint registration statement filed on Form S-4 was declared effective by the SEC.

The companies have been given the green light to schedule special shareholder meetings in connection with the proposed merger. Both meetings will be on July 24, 2015.