SCOR acquisisce XL Re Life America negli Stati Uniti
Il 18 luglio 2009, SCOR Global Life US (SGL U.S.), filiale al 100% del Gruppo SCOR, ha concluso un accordo definitivo per acquisire XL Re Life America Inc. (XLRLA), filiale di XL Capital Ltd. Questa transazione, che rappresenta in totale EUR 31,7 milioni, sarà realizzata in cash ed è autofinanziata.
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(informazione.it - comunicati stampa - economia)
Questa operazione, che dovrebbe concludersi il 30 settembre 2009, è soggetta all'approvazione delle autorità di regolamentazione ed alle normali condizioni di conclusione dei contratti.
Nel 2008, XLRLA ha generato EUR 22,1 milioni in raccolta premi provenienti dal ramo tradizionalo Vita che includono annuali temporanei rinnovabili e coassicurazioni. L'acquisizione permetterà a SGL U.S. di rafforzare ulteriormente il suo posizionamento sul mercato americano della riassicurazione Vita.
SCOR Chairman and CEO Denis Kessler comments: "This small acquisition is one of the so-called gardening deals as described during SCOR's Investors' Day in July. It proves that SCOR is able to profit from market opportunities in the current environment. The business acquired shows a strong compatibility with SCOR's Life strategy that is rooted in focusing on traditional protection business that is not correlated with economic risks."
Gilles Meyer, CEO of SCOR Global Life, comments: "This acquisition will help SCOR Global Life to strengthen its services in the mortality-protection field and reinforce our position in the United States. The acquisition demonstrates the inroads SCOR is making in the most important Life market in the world."
Both SCOR Global Life and XLRLA have strong reputations in the U.S. for building long- term mutually profitable relationships with their clients. SCOR Global Life intends to offer employment to the XLRLA team upon consummation of the transaction. This will ensure that it will have the resources to maintain its excellent services with regard both existing clients and those new clients acquired through the XLRLA transaction.
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Forward-looking statements
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-.looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Please refer to SCOR's document de référence filed with the AMF on 5 March 2009 under number D.09-0099 (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
Press release
22 July 2009
For further information please contact:
Beat Werder +33 (0)1 46 98 71 39
Chief Communications Officer
Marco Circelli +44 (0) 207 553 8106
Head of Group Corporate Finance & Financial Communications
Copyright Hugin
Questo comunicato é distribuito da Hugin. L'emittente è l'unico responsabile per il contenuto del comunicato.
Nel 2008, XLRLA ha generato EUR 22,1 milioni in raccolta premi provenienti dal ramo tradizionalo Vita che includono annuali temporanei rinnovabili e coassicurazioni. L'acquisizione permetterà a SGL U.S. di rafforzare ulteriormente il suo posizionamento sul mercato americano della riassicurazione Vita.
SCOR Chairman and CEO Denis Kessler comments: "This small acquisition is one of the so-called gardening deals as described during SCOR's Investors' Day in July. It proves that SCOR is able to profit from market opportunities in the current environment. The business acquired shows a strong compatibility with SCOR's Life strategy that is rooted in focusing on traditional protection business that is not correlated with economic risks."
Gilles Meyer, CEO of SCOR Global Life, comments: "This acquisition will help SCOR Global Life to strengthen its services in the mortality-protection field and reinforce our position in the United States. The acquisition demonstrates the inroads SCOR is making in the most important Life market in the world."
Both SCOR Global Life and XLRLA have strong reputations in the U.S. for building long- term mutually profitable relationships with their clients. SCOR Global Life intends to offer employment to the XLRLA team upon consummation of the transaction. This will ensure that it will have the resources to maintain its excellent services with regard both existing clients and those new clients acquired through the XLRLA transaction.
*
* *
Forward-looking statements
SCOR does not communicate "profit forecasts" in the sense of Article 2 of (EC) Regulation n°809/2004 of the European Commission. Thus, any forward-.looking statements contained in this communication should not be held as corresponding to such profit forecasts. Information in this communication may include "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions and include any statement which does not directly relate to a historical fact or current fact. Forward-looking statements are typically identified by words or phrases such as, without limitation, "anticipate", "assume", "believe", "continue", "estimate", "expect", "foresee", "intend", "may increase" and "may fluctuate" and similar expressions or by future or conditional verbs such as, without limitations, "will", "should", "would" and "could." Undue reliance should not be placed on such statements, because, by their nature, they are subject to known and unknown risks, uncertainties and other factors, which may cause actual results, on the one hand, to differ from any results expressed or implied by the present communication, on the other hand.
Please refer to SCOR's document de référence filed with the AMF on 5 March 2009 under number D.09-0099 (the "Document de Référence"), for a description of certain important factors, risks and uncertainties that may affect the business of the SCOR Group. As a result of the extreme and unprecedented volatility and disruption of the current global financial crisis, SCOR is exposed to significant financial, capital market and other risks, including movements in interest rates, credit spreads, equity prices, and currency movements, changes in rating agency policies or practices, and the lowering or loss of financial strength or other ratings.
Press release
22 July 2009
For further information please contact:
Beat Werder +33 (0)1 46 98 71 39
Chief Communications Officer
Marco Circelli +44 (0) 207 553 8106
Head of Group Corporate Finance & Financial Communications
Copyright Hugin
Questo comunicato é distribuito da Hugin. L'emittente è l'unico responsabile per il contenuto del comunicato.
[CN#156271]
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