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Member, Beacon International Group, Ltd.
PARISSCOR S.A. posted a 43% increase in profit for the first quarter of 2007 and announced its intention to delist from the New York Stock Exchange.
The Paris-based reinsurer, which intends to buy its Swiss rival Converium Holding Ltd., reported net income of €76 million after tax, a 43% increase over the comparable period last year.
The integration of life reinsurance subsidiary Revios contributed to that result, the French reinsurer said.
Separately, SCOR said it intended to delist its American Depository Shares from the NYSE. and to deregister its securities from regulation by the Securities and Exchange Commission.