french reinsurer SCOR could pursue a merger deal with Bermudian reinsurer PartnerRe, according to analysts from Berenberg. The move could be a defensive one after SCOR rejected a hostile takeover attempt from Covea in September. The French firm rejected the €8.2bn ($9.6bn) bid, saying it threatened its independence and did not reflect its value. Though SCOR has denied speculation of discussions with PartnerRe, Berenberg said a deal would significantly increase its standing in the global reinsurance industry. The two companies’ compatible business lines, notable cost and capital synergies would fit well together and a merger could also satisfy investors disappointed at the Covea bid being rejected.
French reinsurer SCOR could pursue a merger deal with Bermudian reinsurer PartnerRe, according to analysts from Berenberg. The move could be a defensive one after SCOR rejected a hostile takeover attempt from Covea in September. The french firm rejected the €8.2bn ($9.6bn) bid, saying it threatened its independence and did not reflect its value. Though SCOR has denied speculation of discussions with PartnerRe, Berenberg said a deal would significantly increase its standing in the global reinsurance industry. The two companies’ compatible business lines, notable cost and capital synergies would fit well together and a merger could also satisfy investors disappointed at the Covea bid being rejected.