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Scor buys asset manager Coriolis Capital

Posted On: May. 23, 2019 8:52 AM CST


(Reuters) — French reinsurer Scor SE said it had agreed to buy 100% of Coriolis Capital Ltd., an asset manager specializing in insurance-linked securities, for an undisclosed amount.

Coriolis Capital invests mainly in natural disaster bonds, options, collateralized reinsurance and climate derivatives.

Scor said the acquisition, expected to be finalized in the second half of 2019, would raise the assets which its investment unit manages to $2.1 billion.

Scor, which recently rejected an €8.2 billion ($9.1 billion) takeover attempt, is due to unveil a new strategic plan in September.