Exor, Covea to Spend EUR1.5 Billion in Investments, Reinsurance Vehicles
August 03 2020 - 12:39PM
Dow Jones News
By Mauro Orru
Exor NV said Monday that it would spend 1.5 billion euros ($1.77
billion) along with French mutual insurance company Covea
Cooperations SA in special-purpose insurance vehicles managed by
PartnerRe, as well as other investment opportunities.
The holding company of Italy's Agnelli family said EUR750
million would go toward the special-purpose insurance vehicles
investing in property catastrophe and other short-tail reinsurance
contracts, with the remaining EUR750 million for other
opportunities.
The two companies will make a EUR500 million investment in
special-purpose insurance vehicles on Jan. 1, 2021 with another
EUR250 million investment made prior to or on Jan. 1, 2024, Exor
said.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
August 03, 2020 12:24 ET (16:24 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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