PartnerRe closes $375 mln acquisition of PE-backed Aurigen

PartnerRe Ltd has closed its acquisition of Aurigen Capital Ltd, a Canadian life reinsurance company. The cash deal, announced in October 2016, was valued at $375 million. Bermuda’s PartnerRe, a multi-line reinsurer, said Aurigen's management and employees will join its existing life and health segment as a newly-formed business unit called North America Life. Based in Toronto, Aurigen was launched in 2007 with a $500 million equity investment from a private equity consortium consisting of Edgestone Capital Partners, Bregal Capital, Pine Brook Partners and Soros Strategic Partners.

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