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News Focus - SCOR buys Revios.
(From Reinsurance)
French reinsurer SCOR has bought up Revios for EUR605m ($771m). It plans to combine Revios with SCOR Vie, creating SCOR Global Life and in the process becoming the fourth-largest life reinsurer in the world.
Based in Cologne, Germany, Revios is the former life-reinsurance arm of Gerling Global Re, after being removed from the company (now in run-off) in 2002. Revios has offices in 17 countries and underwrote a premium volume of EUR1.2bn ($1.5bn) in 2005.
SCOR claims that the purchase will give it 'critical mass' on the major life-reinsurance markets. Total premium income for SCOR Global Life in 2005 has been calculated as EUR2.26bn ($2.88bn), with an estimated worldwide market share of around 8%. The company will aim to be in the top five life reinsurers in North Europe.
In the wake of the announcement, Standard & Poor's (S&P) ratings services ...
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- Newspaper article from: European Report September 8, 2006 700+ words
The European Commission granted clearance, on 7 September, to the acquisition of sole control of Revios Ruckversicherung AG (Revios) of Germany by SCOR S.A. (SCOR) of France. Both companies are active in reinsurance.
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- Magazine article from: Business Insurance Bradford, Michael November 2, 2009 700+ words
...portfolio transfers related to its acquisition of Converium Holding Ltd. SCOR also acquired life reinsurer Revios Ruckversicherung A.G., but because the business between those two companies is largely complementary, life portfolio transfers...
