SCOR to pay 488.3 million USD to Covéa

The Arbitral Tribunal, administered by the Paris Mediation and Arbitration Centre (CMAP), issued its award on 25 June 2026 in the dispute between SCOR and Covéa regarding two retrocession treaties. The Tribunal upheld the validity of the treaties and ordered SCOR to pay 488.3 million USD to Covéa for breaches by the French reinsurer of its pre-contractual and contractual disclosure obligations.

To recap, in June 2021, the two groups entered into two retrocession treaties under which the French reinsurer ceded to Covéa 30% of the life and health portfolio held by SCOR’s Irish entities as of 31 December 2020.