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Specialty Reinsurance North America

Scor signs $750m deal for Generali US Life business

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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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