Scor Shells Out $920M For Generali's US Reinsurance Unit

Law360, New York (June 4, 2013, 3:39 PM EDT) -- Italian insurance giant Generali Group reached a $920 million agreement Tuesday to sell its American reinsurance arm to France-based Scor Global Life SE in a deal that would make Scor the largest life reinsurer in the United States.

Scor will pay a cash consideration of $780 million to acquire Generali U.S. Holdings Inc. and kick in approximately $140 million more in the form of released collateral, according to Generali.

The sale, which is expected to close by the end of September, is part of the Generali's plan...
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