American Intl (AIG) enters into definitive agreement to sell Validus Re to RenaissanceRe Holdings for $2.985 bln; following closing, AIG expects to make significant investments in RenaissanceRe’s DaVinci Reinsurance and Fontana Re managed funds… AIG up 0.3%
RenaissanceRe (RNR) to acquire American International Group’s (AIG) treaty reinsurance business for $2.985 bln in total consideration, including $2.735 bln of cash and $250 mln of RenaissanceRe common shares; files mixed shelf securities offering; commences public offering of 6,300,000 of its common shares… RNR down 3.7%