RenRe completes TMR acquisition

RenaissanceRe Holdings has announced that it has concluded its acquisition of Tokio Millennium Re (TMR).

The acquisition was originally announced on October 30, 2018 and the company said that the completion follows the receipt of all necessary regulatory approvals.

“The acquisition of TMR accelerates our strategy and enhances RenaissanceRe’s global reinsurance leadership, product offerings and access to attractive risk,” said Kevin J. O’Donnell, president and chief executive officer of RenaissanceRe.

“The bespoke structure of this transaction also strengthens our long-standing relationship with Tokio Marine Group. Our entire team is excited about the expanded opportunities that the TMR platform will bring to deliver the best underwriting solutions in the business while maximizing shareholder value.”