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Brazil's BTG Pactual to acquire Ariel Re

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BTG Pactual S.A. is set to acquire Bermuda-based property/casualty reinsurer Ariel Re Holdings Ltd. from Global Atlantic Financial Group Ltd. for an undisclosed figure, BNamericas reported.

The Brazilian investment bank said Ariel Re "will be the "cornerstone of BTG Pactual's international reinsurance venture." Under the deal, Ariel Re will continue running its Lloyd's of London syndicate and having access to Lloyd's security ratings.

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