RenaissanceRe Completes Secondary Public Offering of Common Shares By Tokio Marine & Nichido Fire Insurance Co., Ltd.
On January 9, Willkie client RenaissanceRe Holdings Ltd. completed a secondary public offering of 1,739,071 shares of its common shares by Tokio Marine & Nichido Fire Insurance Co. Ltd. Morgan Stanley & Co. LLC served as sole underwriter for the offering. The shares were issued to Tokio Marine in connection with RenaissanceRe’s acquisition of Tokio Marine’s reinsurance platform, which closed in March 2019.
RenaissanceRe is a global provider of reinsurance and insurance. The company’s business consists of two reportable segments: (1) Property, which is comprised of catastrophe reinsurance, including certain property catastrophe joint ventures managed by the company’s ventures unit, and other property reinsurance and insurance and (2) Casualty and Specialty, which is comprised of casualty and specialty reinsurance and insurance and certain specialty joint ventures managed by the company’s ventures unit. Established in 1993, RenaissanceRe has offices in Bermuda, Ireland, Singapore, the United Kingdom and the United States.
The deal was handled by partner Sean Ewen, and associates Marisa Weisbaum and Maria LaGumina.