Scor signs $750m deal for Generali US Life business
French reinsurer Scor, through its Scor Global Life Americas (SGLA) Holding unit, has agreed to acquire the US life reassurance operations of Assicurazioni Generali for €579m ($750m) in cash in a deal that Scor says will make SGLA the number one US life reassurer, as measured by new business and in-force volume. Scor chairman and chief executive Denis Kessler (pictured) said: “The transaction meets our strategic criteria and will be accretive for our shareholders whilst maintaining SCOR’s overall solvency”.
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