Alea Group Holdings (Bermuda) Ltd. and Paris-based SCOR announced that SCOR has agreed to buy the renewal rights of Alea Europe–making this the third renewal rights sale announced by Alea in recent weeks.
According to an estimate by the two companies, under the terms of the transaction the total cost of the deal will fall in the $10-to-$20 million range.
The proposal covers Alea Europe's property and casualty treaty portfolio, which constitutes the majority of Alea Europe's business, Alea said.
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