SCOR : Settlement agreement between Scor and Covea
>Orderly exit by Covéa from Scor’s capital - Scor and Covéa announced yesterday evening the signing of a settlement agreement between the two groups drawn up under the aegis of the French Prudential Supervision and Resolution Authority (ACPR). Under the terms of the agreement, Covéa has granted to Scor a call option on the Scor shares that it holds, transferable to any third party designated by Scor, at an exercise price of € 28 per share (vs yesterday’s closing price...SCOR is a holding company. Through its subsidiaries, Co. is engaged mainly in reinsurance. Its customers are insurers and large corporations. Co. is engaged in life reinsurance through SCOR Global Life SE and non-life reinsurance through SCOR Global P&C SE. In the life reinsurance business, Co. offers reinsurance for individual and group life insurance, long-term care, substandard risks, critical illness and financing products. The non-life reinsurance business comprises traditional reinsurance business; Treaty, Business Solutions, and Specialty Lines. In addition, Co. through SCOR Global Investments SE, manages, directly or indirectly its global investment portfolio.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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