Scor pays €31.7m for €22.1m premium income reinsurer
French reinsurer Scor has bought XL Re Life America for €31.7m cash in a self-financed operation, Dow Jones reports.
Scor Global Life US has definitive agreement to acquire XL Re Life America from XL Capital with the transaction expected to close on 30 September, subject to regulatory approval.
In 2008, XL Re Life America made €22.1m in premium income from traditional mortality business that includes yearly renewable terms as well as coinsurance.
