Renaissancere holdings ltd. advances strategy with $2.985 billion acquisition of validus re

Pembroke, bermuda--(business wire)--renaissancere holdings ltd. (nyse: rnr) (“renaissancere”) today announced it has entered into a definitive agreement with american international group, inc. (“aig”), whereby renaissancere will acquire aig's treaty reinsurance business, which includes validus reinsurance ltd. and its consolidated subsidiaries, alphacat managers ltd. and its managed funds, and all renewal rights to the assumed reinsurance treaty unit of talbot (collectively, “validus re”). aig.
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