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International

RenaissanceRe's purchase of Platinum may spur more M&A activity: Fitch

November 28, 2014 Reprints

Fitch Ratings Ltd. has said that Bermuda-based RenaissanceRe Holdings Ltd.'s recently announced move to acquire Platinum Underwriters Holdings Ltd. may spark merger and acquisition activities in the reinsurance space, Bernews reported.

RenaissanceRe said it would acquire Platinum for about $1.9 billion. M&A activities in the reinsurance sector have been restricted in recent times "due to a lack of willing sellers and inherent uncertainty tied to large acquisitions," Fitch said.

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RenaissanceRe's purchase of Platinum may spur more M&A activity: Fitch

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