Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

21 May 2012

Scor confirms $1.4bn move for Aegon’s Transamerica Re

26 April 2011

Global reinsurer Scor is buying the mortality business of US life reinsurer Transamerica Re from Dutch insurance giant Aegon in a deal worth $1.4bn after tax.

Scor will pay Aegon EUR630mn ($912.5mn) in cash.

The deal is also worth $500mn in capital relief to Aegon, as it cuts its reinsurance reserve financing requirements by about 50 percent.

Scor chief executive Denis Kessler described the deal as "a new milestone" in the history of the French headquartered reinsurer.

Scor will become...

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