PartnerRe, which reported a net loss attributable to common shareholders of US$433 million for the first quarter of 2020, will no longer be acquired by Covéa.
In a brief statement, the French mutual insurance group said: “In light of the current unprecedented conditions and significant uncertainties threatening the global economic outlook, Covéa has indicated to Exor that the context does not allow the contemplated acquisition of PartnerRe to be carried out on the terms initially envisaged.”
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