PartnerRe is a global provider of reinsurance solutions with headquarters in Bermuda.
PartnerRe provides insurance companies with multiple lines of reinsurance, including property & casualty, catastrophe, specialty lines and life reinsurance. Trident’s ownership in PartnerRe resulted from the 2009 acquisition of PARIS RE by PartnerRe. PARIS RE Holdings Limited was a global provider of reinsurance solutions. PARIS RE specialized in several lines of reinsurance, including property, catastrophe, casualty, motor, agriculture, aviation/space, credit/surety, energy, marine, life and health. At its formation, PARIS RE acquired the active business of AXA RE Asia Pacific Ltd., based in Singapore. The prior management team of AXA RE, led by CEO Peter Gerhardt and Chief Underwriting Officer Jean-Luc Gourgeon, joined PARIS RE in the same capacity.
INDUSTRY KNOWLEDGE & NETWORK
Stone Point’s successful transaction involving the spin-out and recapitalization of Chubb Re into Harbor Point established the precedent for a similar transaction structure with AXA Re.
INTRODUCTION TO CLIENTS & PARTNERS
Stone Point’s relationships with reinsurance carriers was instrumental in successfully negotiating the commutation agreement that was a potential impediment to the transaction.
BUSINESS & PRODUCT DEVELOPMENT
Stone Point facilitated the formation of a “side car” reinsurance vehicle to provide strong capacity and fee income for PARIS Re.
EXECUTIVE RECRUITING & ALIGNMENT
Stone Point helped the company recruit key members of the management team.
CAPITAL RAISING & STRUCTURING
Stone Point assembled the equity sponsor group for the initial partnership with PARIS RE, and helped to structure its complicated exit from AXA. The structure of the transaction provided for full guarantee of reserves prior to the acquisition.
OPERATIONAL ASSISTANCE & GOVERNANCE
Stone Point recruited outside directors for PARIS RE’s Board, with Jim Carey serving as Chairman.
Stone Point led PARIS RE’s sale process, resulting in a sale to PartnerRe. Additionally, Stone Point helped to manage its IPO process, as well as helped the company re-domicile to Switzerland.
I would choose Stone Point as my shareholder again any time.
Investments highlighted or discussed in this selection have been selected to illustrate SPC’s investment approach and/or market outlook and are not intended to be an indicator of past or future performance. Each investment discussed in this selection has been selected solely for this purpose and has not been selected on the basis of performance or any performance-related criteria. The investments discussed herein do not represent an entire portfolio and in the aggregate may only represent a small percentage of holdings. Nothing in this presentation shall constitute a recommendation or endorsement to buy or sell any security or other financial instrument referenced herein.