Sompo Japan Nipponkoa enters the capital of SCOR

Patinex AG sells its entire stake in the French reinsurer SCOR to Japanese Sompo Japan Nipponkoa.

The acquisition relates to 7.8% of the capital and 8.1% of the voting rights. Sompo wishes to subsequently increase its stake to 15%.

As a reminder, the SCOR Group achieved a solid performance in 2014. Gross written premiums amounted to 11 316 million EUR (13 756 million USD) against 10 253 million EUR (14 116 million USD) in 2013. The non life combined ratio which was 93.9% in 2013 marked a sharp decline to 91.4% in 2014.

Excluding the exceptional acquisition gain of 183 million EUR (252 million USD) related to Generali US in 2013, the net income in 2014 was 512 million EUR (622 million USD), up by 40% compared to the previous year.

In late December 2014, shareholders' equity amounted to 5 729 million EUR (6 964 million USD) against 4 980 million EUR (6 856 million USD) in 2013.

NB: growth rates are calculated in local currency
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