Kekst CNC represents RenaissanceRe Holdings as it acquires American International Group’s Validus Reinsurance in a deal valued at $3B.

The acquisition creates a Top 5 global property and casualty reinsurer.

Kevin O’Donnell, RenaissanceRe CEO, said the deal provides “access to a large book of reinsurance business in a favorable market environment” and “accelerates three drivers of profit—underwriting, fee and investment income.”

The acquisition also strengthens RenaissanceRe’s relationship with AIG, which is expected to make substantial investments in RenaissanceRe’s Capital Partners unit.

Kekst CNC co-CEO Jeremy Fielding, vice chairman Jeffrey Taufield, partner Nicolas Capuano, associate Emma Cloyd and senior analyst Jack Keeler handle the RenaissanceRe business.

Publicis Groupe owns Kekst CNC.