Run off firm enters US market with PXRe acquisition
Non life run off consolidator Tawa has entered into a stock purchase agreement with Argo Group International to acquire its subsidiary, PXRe Reinsurance for an estimated cash consideration of US$114m.
The acquisition would give Tawa its first operation in the US, the largest run-off market in the world and is in accordance with Tawa’s stated consolidation strategy set out at the time of its
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