SCOR Buying Sorema S.A. And Sorema N.A.

With the property-casualty reinsurance “moving in the right direction,” the “timing is good” for Parisbased SCOR to acquire Sorema S.A. and Sorema N.A., SCOR Chairman and Chief Executive Officer Jacques Blondeau said during a recent conference call.

Mr. Blondeau was explaining motivations behind a 344.5 million euros deal ($298 million at current exchange rates) in which SCOR will buy the two reinsurance subsidiaries of Groupama.

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