Deals
Scor to Buy Generali Reinsurance Unit for $750 Million
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Scor SE, France’s largest reinsurer, agreed to purchase a unit of Assicurazioni Generali SpA for about $750 million to become the biggest U.S. life reinsurer.
Scor will buy Generali U.S. Holdings Inc. for cash, and also pay an “earnings adjustment,” the Paris-based company said in a statement today. The company, which may issue debt to finance the acquisition, will book a gain of at least 100 million euros ($131 million) when the deal closes, it said in a presentation.