For Immediate Release
Employers Holdings unit acquires PartnerRe Insurance Co. of New York
August 2nd, 2019 –Employers Holdings Inc. subsidiary Cerity Group Inc. on July 31 completed its acquisition of PartnerRe Insurance Co. of New York.
The purchase price was equal to the sum of PartnerRe Insurance Co. of New York’s statutory capital and surplus and $5.8 million.
Employers Group Inc. in August 2017 entered into a stock purchase agreement with Partner Reinsurance Co. of the US to acquire all of the outstanding shares of capital stock of PartnerRe Insurance Co. of New York. In May 2018, the parties amended the initial purchase agreement to permit, among other things, that Nevada-based Cerity Group Inc. be the acquirer.
Merger & Acquisition Services Inc. served as the advisor to Partner Reinsurance Company of the U.S.
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Merger & Acquisition Services, Inc. is a specialist advisory and financial services Firm to the insurance and reinsurance industry, with offices in New York, Connecticut, Georgia & Cayman Islands. Founded in 1999, the Firm and its affiliates provides investment banking and insurance consulting services globally, including; merger & acquisition advisory capital raising, valuations, program placement/fronting, and reinsurance advisory. Merger & Acquisition Capital Services, LLC., a registered broker-dealer and member FINRA / SIPC, is an affiliate of Merger & Acquisition Services, Inc.
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