Scor Investment Partners SE, the portfolio management company of Scor SE, has agreed to acquire 100% of Coriolis Capital Ltd.

Coriolis Capital is a fund manager specializing in insurance-linked securities, and invests in catastrophe bonds, collateralized reinsurance and climate derivatives. Scor said the acquisition would raise Scor Investment Partners' AUM to $2.1 billion.

"Scor Investment Partners is entering an important new phase in its development and expanding its capacity on the ILS market," the parent company added.

Subject to regulatory approval, the transaction is expected to be finalized in the second half, after which Coriolis Capital will become a subsidiary of Scor Investment.