Scor rejects Covéa bid

Scor has turned down the unexpected takeover offer made by its largest shareholder Covéa. The leader of the French reinsurance points out that the project is incompatible with the group’s values and strategy.

Scor's chairman and CEO Denis Kessler said that, unlike Covéa which is expert in motor and homeowners’ insurance in France, his company's activities are global and multidisciplinary.

Such a transaction could cast doubt upon the group's strategy and independence which have been the foundation of Scor's success in recent years.

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