PE-backed Aurigen to be acquired by PartnerRe for $375 mln
Aurigen Capital Ltd, a Toronto-based life reinsurance company, has agreed to be acquired by PartnerRe Ltd for $375 million (about US$286 million) in cash. The deal is expected to close by the first quarter of 2017. Bermuda's PartnerRe, a multi-line reinsurer, said the deal supports a strategy to grow its life and health business and will expand its geographic footprint. Aurigen was launched in 2007 with a $500 million equity investment from Edgestone Capital Partners, Bregal Capital, Pine Brook Partners and Soros Strategic Partners. It reports having become a top-five life reinsurer in Canada based on recurring new reinsurance business.
20 October 2016•4 mins read
