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May 2011 Strong Momentum, Scor’s strategic plan, is on track. The French reinsurer has announced the acquisition of mortality risks portfolio of Transamerica Re, a division of the Dutch group Aegon.
The transaction amounts to 917 million USD and includes the takeover of the Irish subsidiary TIRI. The mortality premiums underwritten in 2010 by Transamerica Re amounted to 2.2 billion USD. Henceforth, life insurance accounts for 56% of SCOR’s overall business, compared to 45% previously. Thanks to this transaction, Scor has become the second life reinsurer in the United States, consolidating, thus, its position worldwide.