RenaissanceRe acquires Validus Re from AIG

The Bermudan group RenaissanceRe has signed a definitive agreement with American International Group (AIG) to acquire its reinsurance activities which include Validus Re and its consolidated subsidiaries. The transaction is valued at 2.985 billion USD.

With this acquisition, RenaissanceRe aims at becoming one of the top five non-life reinsurers worldwide.

The deal, which is still pending the approval of the competent authorities, is expected to be finalized during the third quarter of 2023.