04Dec09

Press release

Group

SCOR finalises purchase of XL Re Life America Inc.

SCOR Global Life US (SGLUS), a wholly-owned subsidiary of the SCOR Group, has completed the acquisition of 100% of the capital stock of XL Re Life America Inc. (XLRLA) from XL Capital Ltd.

SCOR Global Life US (SGLUS), a wholly-owned subsidiary of the SCOR Group, has completed the acquisition of 100% of the capital stock of XL Re Life America Inc. (XLRLA) from XL Capital Ltd.  
 
The transaction was originally announced on July 22, 2009. 
 
The acquisition helps SCOR Global Life strengthen its services in the mortality-protection field and reinforce its position in the United States. This acquisition also demonstrates the inroads SCOR is making in the most important Life market in the world. This transaction is expected not to create any goodwill.
 
With its retention of the XLRLA team, SGLUS has enhanced its staff and ensured that it will have the resources to continue to provide the same level of excellent services for both existing clients and the new clients acquired through the XLRLA transaction. 

Contact

Marie-Laurence Bouchon

Group Head of Communications

+33 (0)1 58 44 75 43

mbouchon@scor.com

 

Ian Kelly

Head of Investor Relations

+44 203 207 8561

ikelly@scor.com