PARTNERRE acquired by EXOR
Context
EXOR S.p.A. announced a firm and definitive offer to acquire all outstanding common shares of PartnerRe Ltd. at $137.50 per share, which represents a 10% premium to the implied value of $125.17 per PartnerRe share. EXOR's firm offer is not subject to due diligence and is not conditioned on financing. EXOR is now PartnerRe's largest shareholder, with a 9.32% stake in the company.
PARTNERRE, which reported an EBITDA margin of LOGIN in 2015, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the Financial Services sector (12.9x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> Deep-dive in Financial Services market trends
Target
PartnerRe Ltd. operates as a leading institutional reinsurance group, delivering a comprehensive portfolio of risk-transfer solutions to the global insurance market. The company’s business model centers on underwriting high-stakes volatility across diverse risk categories, encompassing non-life (property and casualty, specialty lines) and life reinsurance frameworks, complemented by specialized risk management and investment advisory services. The entity’s value proposition is anchored in its advanced actuarial expertise, long-term capital preservation strategies, and deep structural underwriting discipline. Operating across an extensive international network that anchors its presence in key global financial hubs, PartnerRe serves as a critical systemic partner to primary insurers requiring sophisticated risk mitigation to protect their balance sheets against catastrophic and non-catastrophic exposures. The company's commercial strategy focuses on maintaining a highly diversified portfolio of products, driving continuous technical innovation to address evolving regulatory and market shifts, and leveraging a strong corporate culture of data-driven risk management to deliver sustainable value and long-term capital efficiency for its global stakeholders.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (USD)
Similar deals in Financial Services
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 01/2026 | AXA | PRIMA ASSICURAZIONI | ITALY | Insurance | Axa acquired a 51% stake in Prima Assicurazioni for EUR500 million. The deal includes put/call options for the remaining 49% based on future earnings. This strategic move allows Axa to double its motor insurance footprint in Italy and leverage Prima's best-in-class digital distribution technology |
| 10/2025 | PALOMAR | THE GRAY CASUALTY & SURETY | UNITED STATES | Insurance | Palomar Holdings acquired 100% of The Gray Casualty & Surety Company from Bernhard Capital Partners. The acquisition is a transformative step for Palomar's surety franchise, significantly increasing its market share and geographic reach |
| 03/2025 | ALLIANZ / BLACKROCK / T&D HOLDINGS | VIRIDIUM GROUP | GERMANY | Insurance | The acquisition of Viridium Group by a consortium including Allianz, BlackRock, and T&D Holdings is a strategic move to strengthen the position of these companies in the European life insurance market |
| 09/2024 | TITLE RESOURCES GROUP (TRG) | DOMA | UNITED STATES | Insurance | The acquisition of Doma Holdings by Title Resources Group (TRG) represents a landmark consolidation in the U.S. title insurance market. A unique strategic component of the deal involves the separation of Doma’s assets: Doma’s underwriting division (DTI) becomes a wholly owned subsidiary of TRG, while its technology division (Doma TechCo) will operate as a separately capitalized sister company |
| 07/2023 | SANTIANE | JULIA ASSURANCE | FRANCE | Insurance | The acquisition of Julia Assurance by Santiane marks a strategic move by the latter to diversify its services and expand its market footprint. By partnering with Julia Assurance, Santiane aims to strengthen its position in the French insurance market and capitalize on the growing demand for loan insurance |
| 12/2019 | WATFORD | AXERIA IARD | FRANCE | Insurance | As part of its strategic refocusing on insurance brokerage, April Group sold Axeria IARD to WATFORD. This divestment allows April to exit the capital-intensive risk-carrying business and operate as a pure wholesale broker, while securing a long-term partnership with the carrier |
| 07/2016 | NAXICAP PARTNERS | STELLIANT | FRANCE | Insurance | The fifth LBO of Texa represents a major turning point in the organization's trajectory, signaling a shift toward industrialized claims management and real estate services. The strategic rationale for this transaction centers on an "external-growth" play, merging the group’s industry-leading technical operational depth in loss adjustment with the sponsor’s extensive expertise in executing high-velocity build-up strategies |
| 04/2014 | CINVEN | SKANDIA GERMANY & AUSTRIA | GERMANY | Insurance | The acquisition of Skandia Germany and Austria by Heidelberger Leben is a strategic move to consolidate the German life insurance market and create a strong platform for future growth. The deal is expected to drive significant synergies and cost savings, and it will provide Heidelberger Leben with a significant increase in scale and presence in the German and Austrian markets |
| 08/2013 | CINVEN | HEIDELBERGER LEBEN | GERMANY | Insurance | Cinven has announced the acquisition of a majority stake in Heidelberger Leben, a specialist provider of life and retirement insurance products in Germany. This acquisition will create the first consolidation platform for life insurance portfolios in Germany |
| 10/2012 | APAX PARTNERS | STELLIANT | FRANCE | Insurance | The acquisition of Texa by Apax Partners represents a major turning point in the professionalization of the French loss adjustment market. The strategic rationale for this transaction centers on an "industrial-consolidation" play, merging the group's industry-leading technical operational depth in P&C expertise with the sponsor's extensive expertise in executing high-velocity buy-and-build strategies |
REFERENCES
Valuation range: EV 3b - 100b USD
Revenue range: 5b - 100b USD
EBITDA range: 150M - 250M USD
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PARTNERRE by EXOR are reserved for mynth community members. Register for free to unlock full data.
Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Press release: view release
Target: partnerre
Acquirer: exor