PARTNER RE TO SELL SCOR

Bermuda-based PartnerRe has reached an agreement with France’s SCOR Group to sell its U.S. life reinsurance business, PartnerRe Life Insurance Company of the U.S., and its subsidiaries Vanguard Life Insurance Co., Investors Insurance Corp. and Investors Marketing Group. The move represents SCOR’s return to the U.S. life and health reinsurance market. The company will, however, continue to develop its life reinsurance operations outside of the U.S. market. SCOR cited the growth of the annuity market, the strong demand for
long-term care products and the recent changes in U.S. law, permitting bancassurance holding companies, as incentives to acquire PartnerRe Life.

Topics Mergers & Acquisitions USA