Reinsurance News

Covea

Investors question SCOR’s “aggressive” legal dispute with Covéa

4th February 2019

French reinsurer SCOR has faced criticism from activist investors just days after the company announced it intends to initiate criminal actions against Covéa and its CEO, Thierry Derez, following the rejection of an €8.2 billion takeover bid last year. Catherine Berjal, CEO of investment management firm CIAM, penned a letter ... Read the full article

Covéa board firmly rejects “groundless” SCOR accusations

31st January 2019

After a statement from Covéa this week put an official end to its hopes of successfully navigating a takeover of SCOR, prompting the latter to pursue legal action, the company’s board of directors have firmly rejected what they describe as groundless acquisitions and reaffirmed its unanimous support for ... Read the full article

SCOR seeks prosecution of Covéa & Thierry Derez

29th January 2019

French reinsurance giant SCOR has announced that it plans to initiate criminal actions against Covéa and its Chief Executive Officer (CEO) Thierry Derez following the rejection of an €8.2 billion takeover bid in August 2018. The acquisition offer from Covéa, which is currently SCOR’s largest shareholder, was labelled as “hostile ... Read the full article

Covéa scraps plans to pursue SCOR deal

29th January 2019

French insurance group Covéa has announced that it has abandoned its plans to pursue an acquisition deal targeting reinsurance giant SCOR. “Covéa takes note of SCOR’s refusal to enter into any discussions in relation to Covéa’s proposed friendly transaction offer addressed on 24 August 2018,” the company said in a statement. “The ... Read the full article

Covéa CEO resigns from SCOR board following takeover attempt

14th November 2018

Thierry Derez, the Chief Executive Officer of French insurer Covéa, has resigned from his position on SCOR’s board following the rejection of an €8.2 billion (US $9.6 billion) takeover attempt in September. SCOR had recently released a statement reaffirming its rejection of Covéa’s “hostile and unfriendly” acquisition offer and called ... Read the full article