Good deal for Paris Re but not so good for IPC

Despite the stubborn resistance of their board and the emergence of a white knight in the form of Flagstone Re, IPC shareholders find themselves left with a deal which values their company at 14% below book value based on the Validus closing price of $21.62 on 14 July

July has seen two reinsurance mergers as the IPC saga was brought to a conclusion and PartnerRe announced an agreed deal with Paris Re. These transactions have led to predictions of more to come but there will probably be little activity until the hurricane season draws to a close.