SCOR and Covéa have confirmed the implementation of the life retrocession treaties, mentioned in the transactional agreement protocol that was signed on 10 June 2021 by the two groups.
Under these quota share reinsurance treaties, Scor will cede 30% of the entire ongoing life portfolio held by Scor's entities in Ireland as at 31 December 2020.
The acquisition is valued at 1.014 billion USD.
Read also | SCOR and Covéa end their dispute [4]
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[3] https://www.atlas-mag.net/en/issue/the-insurance-market-after-the-covid-19
[4] https://www.atlas-mag.net/en/article/scor-and-covea-end-their-dispute