November 19, 2010
RenaissanceRe Holdings Ltd. announces agreement to sell its U.S. insurance business to QBE Holdings, Inc. for approximately $275 million.
On November 18, Willkie client RenaissanceRe Holdings Ltd. announced that it has entered into a definitive agreement to sell its U.S. property and casualty business underwritten through managing general agents, its crop insurance business underwritten through Agro National Inc. and its commercial property insurance operation to QBE Holdings, Inc. for approximately $275 million. The transaction represents substantially all of RenaissanceRe’s Insurance segment business. The deal was handled by partners Robert Stebbins, Leah Campbell, Henry Cohn, Donald Elliott, Leslie Mazza and David Rubinsky; of counsel William Ried; special counsel Catherine Harrington and associates Robin Choi, Jason Ertel, Andrew Mariniello, Theodore Neos, Steven Rosenzweig, Chaim Philip Theil and Eric Ziff.
