EXOR S.p.A.’s PartnerRe Acquisition Is Complete

June 15, 2016

PartnerRe leaders announced that the investment company EXOR has completed the company’s acquisition. The intended acquisition was announced Aug. 2, 2015, and closed earlier this year, March 18, 2016.

We will carry on operating PartnerRe as a leading independent global reinsurer as we remain focused on maximizing value for our clients. PartnerRe headquarters will continue to be located in Bermuda, and the company will have a strategic presence on five continents in 39 distinct geographic locations worldwide.

In 1993, EXOR was a founding partner of PartnerRe with $1 billion in equity and eight employees under the leadership of Herbert Haag. Today, with this new, “generational” investment in PartnerRe, EXOR reflects the strength of our balance sheet ($7.7 billion in total capital, of which $6 billion is common equity), which allows us to offer large capacity to our clients through our global presence with a diversified product offering.

EXOR’s long and storied history starts in 1899 with the founding of the automobile manufacturing company Fiat by Giovanni Agnelli. Today, the firm is still controlled by the Agnelli Family and has investments in some of the world’s best known brands, including Fiat Chrysler Automobiles, The Economist, Ferrari and CNH Industrial.

In 2015, EXOR’s Net Asset Value, or NAV, grew by 21.2% to over 12 billion Euros, outperforming the MSCI World Index, which grew by just 8.3% during the same period. This performance is part of an ongoing, proven track record: Over the past seven years, EXOR’s NAV grew at compounded annual rate of 23.1%.

EXOR combines an entrepreneurial spirit with sound financial discipline. EXOR leaders focus on the development of the firm’s companies, improving their competitive positions and profitability. They maintain constant, open communication with company management while allowing companies to operate autonomously.

Most importantly, EXOR takes long-term views in the company’s investments, guiding responsibly with a commitment to ensuring that the unique culture, brand, and business that define each of its companies remain intact. We at PartnerRe look forward to a long and profitable relationship with this new parent company.

Interested in learning more about the acquisition? Contact the experts at PartnerRe online or by phone at 415-354-1551.

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