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 in 2015, is valued in this transaction at an EV/EBITDA multiple of , a level than the average currently observed in the Financial Services sector (12.4x).
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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.
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REFERENCES
Valuation range: EV 3b - 100b USD
Revenue range: 5b - 100b USD
EBITDA range: 150M - 250M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: partnerre
Acquirer: exor