BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
PARISReinsurer SCOR S.A. has increased its equity holding in its Swiss rival, Converium Holding A.G. to 86.07%. The increase in SCOR's holding in Converium from 33% followed an initial offer period, which closed on July 9 and was part of the Paris-based company's ongoing acquisition of Converium.
In May, the Zug, Switzerland, based reinsurer recommended that shareholders accept an increased offer from SCOR, following months of protracted wrangling.
Converium said that it welcomed the fact that the offer for all of Converium's share capital is progressing according to expectations. "By securing more than 86% of Converium's share capital, the offer has passed a very important milestone in the integration between the two businesses aimed at creating the fifth global multiline reinsurer," the company said in a statement.
An additional offer period will open July 13 and will be closed on July 26.