SCOR acquires MutRé to boost life/health offering
French reinsurer SCOR has signed an agreement with the Fédération nationale de la Mutualité Française and Matmut to acquire 100 percent of the shares of MutRé.
The acquisition will strengthen SCOR’s life and health offering to the French Mutual insurance industry, the company said.
SCOR has been a 33 percent shareholder and a major technical and commercial partner of MutRé since the company was created in 1998.
The ratification of the agreement by MutRé's other shareholders, which represents approximately 15 percent of MutRé's capital, is expected in October 2017.
The company said that the acquisition is consistent with its strategic plan "Vision in Action". The transaction, which is subject to the authorisation of the ACPR and the relevant competition authorities, would be finalised in early January 2018.
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