SCOR Vie has signed a protocol agreement for the acquisition of ReMark Group B.V. (“ReMark”) shares held by Miklo Beheer B.V. (”Miklo”), for EUR 22.5 million subject to the usual conditions, thereby increasing its shareholding in the capital of ReMark, which has stood at 10.2% since 1994.  Following this transaction, SCOR will hold 39.7% of ReMark’s capital and 40.2% of the voting rights.

 

Established in 1984, ReMark is a major player in the field of direct life & accident insurance sales.  ReMark is present in 32 countries thanks to its thirteen offices throughout the world and has a workforce of 139.  ReMark’s consolidated income reached EUR 34.3 million at 31 December 2005 (up 8.5% compared to 31 December 2004) and the consolidated net income was up sharply at EUR 5 million.

 

By increasing its share in the capital of ReMark, SCOR is strengthening its partnership with a major player in the supply of Life reinsurance products.  This partnership will also enable ReMark to evolve and to accompany the SCOR group in the development of its Life reinsurance business.