Paris Re
| PARIS RE Holdings Limited
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|---|---|
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| legal form | Corporation |
| ISIN | CH0032057447 |
| founding | 2006 |
| Seat | Zug , Switzerland |
| management | Hans-Peter Gerhardt ( CEO ) James D. Carey ( Chairman of the Board of Directors ) |
| Number of employees | 389 (December 31, 2008) |
| sales | 1,404,000,000 USD (premium income in 2008) |
| Branch | Insurance |
| Website | www.paris-re.com |
Paris Re was an international reinsurance group based in Zug , Switzerland . Through its operating subsidiaries in Switzerland, France, the United States, Canada and Singapore, the group of companies specialized primarily in the reinsurance of property, life and health damage.
The company employed 389 people in 2008 and had gross premium income of $ 1.404 billion. Paris Re shares had been listed on the Euronext Paris Stock Exchange since July 2007 .
history
Paris Re was founded in Bermuda in late March 2006 by an international consortium led by private equity firm Stone Point Capital LLC . A few days later, the consortium submitted a takeover offer for the reinsurance activities of the French Axa group. These began in 1977 with the establishment of AMré, Ancienne Mutuelle de Réassurance , which was renamed Axa Réassurance in 1989 . After several acquisitions, in 2002 all reinsurance activities of the Axa Group were merged under Axa Re . At the end of 2006, Paris Re completed the takeover of the reinsurance business from Axa Re .
After Paris Re relocated its corporate headquarters to Switzerland in May 2007, it went public in Paris in July 2007 . Overall, at the beginning of December 2008, 65.83 percent of the shares were still in fixed hands and 34.17 percent were in free float .
At the beginning of July 2009, Paris Re and Bermuda-based PartnerRe announced a strategic partnership that gradually led to the complete takeover of Paris Re by PartnerRe.