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RenRe receives nod to buy Tokio Marine's two reinsurance units

Business agreement

Bermuda-based reinsurer RenaissanceRe Holdings Ltd. has received all regulatory approvals for its $1.5-billion deal to buy Japan-based Tokio Marine Holdings Inc.’s two reinsurance units, The Royal Gazette reported. RenaissanceRe is buying Switzerland-based Tokio Millennium Re A.G. and Tokio Millennium Re (UK) Ltd.

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