SCOR acquires French publishing house

SCOR has acquired the majority stake in a publishing house. The French reinsurer said the move is in line with SCOR's long-term yield approach to investments.

Founded in 1921 by a cooperative of French university professors, Presses Universitaires de France (PUF) is a publishing house specialising in the publication of books, journals, university manuals, essays and monographs in the field of humanities and social sciences.

The investment will reinforce PUF's financial structure and contribute to the restoration of its profitability, against a backdrop of profound transformation in the publishing sector due to digitalisation and changes in terms of how people read and consult works, said SCOR.

Denis Kessler, chairman & chief executive officer of SCOR, said: “Presses Universitaires de France is at a turning point in its existence against the backdrop of the transformation of the publishing sector. SCOR wants to lend its support to this emblematic humanities and social sciences publisher by providing it with the means to implement its strategy for industrial adaptation, whilst maintaining the independence of its editorial choices.”