Advertise here

Menu

Reinsurance News

SCOR denies rumour of PartnerRe talks

4th September 2018 - Author: Steve Evans

SCOR is under the microscope today, with press rumours now circulating following the initial reveal that mutual insurance group owner Covéa had approached the firm with an acquisition offer, which SCOR turned down.

SCOR logoSCOR quickly said that its Board decided to decline the approach from insurance group Covéa as it was “fundamentally incompatible with SCOR’s strategy of independence.”

But now the reinsurer has been forced to deny another rumour, after French business publication BFM reported that SCOR has been in talks with a potential partner from the reinsurance sector for some months.

BFM said that, according to several of its sources, SCOR has been in discussions with independent pure-play reinsurer PartnerRe, which is owned by the Agnelli family’s holding company, the EXOR group.

As a result of this rumour, SCOR has been quick to come out with a denial, explaining that it, “Formally denies the claim on the BFM business website that the Group has been in discussions with another partner for several months.

“Contrary to this assertion, SCOR has held no discussions with Partner Re or any other company.”

A SCOR and PartnerRe tie-up would be interesting of course, as so too would have been a deal with Covéa.

But with the Board and leadership of SCOR seemingly determined to go it alone, it seems anything other than a hostile approach is likely to be denied as well.

Also read:

SCOR finds Covéa offer “fundamentally incompatible” with strategy.

SCOR turns down acquisition offer from Covéa.

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous article:
JLT Re appoints Jamie Pocock to lead Cyber Analytics team

JLT Re, the reinsurance broking arm of global brokerage JLT Group, has promoted Jamie Pocock to Head of Cyber Analytics....

Close