A European reinsurer is scooping up the assets of a U.S. reinsurance broker.
The Paris Re Latin America subsidiary of Paris Re Holdings Ltd., Zug, Switzerland, has agreed to acquire the reinsurance operations and name of Radix Risk Management L.L.C., Miami, from Olympus Healthcare Solutions Inc., Miami.
The founders of Paris Re created the reinsurer in March 2006, by acquiring most of the reinsurance operations of AXA Re, a unit of AXA S.A., Paris.
Olympus Healthcare, a company that has helped provide health coverage for non-U.S. citizens who are visiting the United States, will be focusing on those operations and on life and health reinsurance operations in Latin America and in the Caribbean, Olympus Healthcare says.
Olympus Healthcare also will provide cost containment and administrative services for Paris Re cedent companies, Olympus Healthcare says.