Sompo renounces the acquisition of 8% of SCOR

After announcing in March 2015 its intention to acquire 8.1% of the French reinsurer SCOR for nearly 110 billion JPY (920 million USD), the Japanese insurance company Sompo Japan Nipponkoa has waived this operation which was to raise its stakes to 15%.

Sompo has explained this decision by the increase in SCOR share price, which has been appreciated by about 20% since the announcement of the transaction in March 2015.