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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.