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Scor denies report of PartnerRe merger discussions

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Scor denies report of PartnerRe merger discussions

Scor SE is denying a news report that it has been in discussions about merging with fellow reinsurer PartnerRe Ltd..

The original report appeared on French news website BFM Business and came on the same day that Scor announced it had rejected a €43-per-share offer from French mutual insurance group SGAM Covéa.

Scor said in a statement that it "formally denies" the report that it was in talks with another potential merger partner for months.

"Contrary to this assertion, Scor has held no discussions with PartnerRe or any other company," Scor said.

Covéa acknowledged that it withdrew its offer for Scor, but reiterated its interest in a "friendly transaction" with the French insurer.