Insight and Intelligence on the Global Facultative Markets

19 May 2012

Crop consolidation continues with RenRe sale

22 November 2010

QBE Insurance Group has agreed to buy the US insurance operations of Renaissance Re, supporting predictions that US crop (re)insurance will see a spate of consolidation after major regulatory reforms were introduced recently.

The $275mn acquisition is subject to regulatory approval, with completion expected in March 2011, and includes RenRe's US crop and small specialist programme insurance business.
QBE said the purchase price will be funded from existing resources. The business acquired is expected to generate over $350mn of gross...

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