RenRe gets green light for TMR deal

RenaissanceRe Holdings has announced that it has received all regulatory approvals required in connection with its previously announced acquisition of Tokio Millennium Re AG and Tokio Millennium Re (UK).

RenaissanceRe had announced on October 30, 2018 that it had entered into a definitive agreement with Tokio Marine Holdings to acquire Tokio Marine’s reinsurance platform, TMR for approximately $1.5 billion.

The agreement has been unanimously approved by the boards of directors of both companies.

The company said that the parties anticipate closing the transaction as soon as possible, subject to the satisfaction of customary closing conditions.