Converium accepts Scor's takeover offer

Article Abstract:

French insurance firm Scor S.A. will purchase Swiss reinsurer Converium Holding for $19.04 per share, a deal totaling $2.54 bil. Nearly a third of Converium's shares are already held by Scor. Converium's shareholders, who have informally agreed to the deal, are expected to formalize it by June 25, 2007.

Financial management, France, Switzerland, Investor relations, Scor S.A., Converium Holding Ltd.

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A shopping spree for European insurers: smaller rivals may be targets as strong profits, policy prices fatten large firms' cash piles

Article Abstract:

Large insurance companies in Europe are extremely profitable , leading to speculation of consolidations. The increasingly crowded European marketplace is leading to reduced profits for insurance companies in countries like the United Kingdom, where some smaller companies have already consolidated .

United Kingdom, Europe, Sales & consumption, Industry sales and revenue

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U.K. life insurers confirm talks

Article Abstract:

British life insurance firms Resolution PLC and Friends Provident PLC confirmed that they are discussing a merger. The value of such a deal would be in excess of $16.44 bil and launch speculation regarding further consolidation in the UK insurance sector.

Strategy & planning, Planning, Company business planning, Friends Provident PLC

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