French reinsurance firm SCOR has said today it has successfully completed its 100% acquisition of MutRé S.A., a reinsurer that SCOR has held a 33% stake in since 1998.
SCOR has now acquired 100% of the outstanding shares in MutRé S.A., a mutual reinsurer, established to serve the social economy in France and a particularly major player in the country’s health reinsurance marketplace.
The reinsurer said that the acquisition of MutRé, “will have an accretive impact on SCOR’s ROE and earnings per share,” and is aligned with its strategic plan, as well as its profitability and solvency targets.
SCOR said that the acquisition “fully respects” the reinsurers close historical relationships with mutual insurance partners.
SCOR has been a major technical and commercial partner of MutRé S.A. since the re/insurer was created in 1998. The acquisition will enable SCOR to strengthen its Life & Health reinsurance offering for the French mutual insurance market, the firm said.
