GLOBALE Rückversicherungs Finance Alpha B.V.
GLOBALE Rückversicherungs Finance Alpha B.V.:
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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GLOBALE Rückversicherungs-AG (GLOBAL Reinsurance Company) is selling its
life reinsurance subsidiary Revios Rückversicherung AG to SCOR. The closing
of this transaction is subject to regulatory and anti-trust approvals.
The SCOR Board of Directors yesterday approved the acquisition of Revios
Rückversicherung AG, Cologne, from GLOBAL Reinsurance Company, Cologne. The
transaction has also been approved by the responsible bodies of GLOBAL
Reinsurance Company.
GLOBAL Reinsurance Company had transferred Revios to VHV Vermögensanlage
AG, Hanover, under a trusteeship agreement in 2003. This had been necessary
in order to allow Revios to obtain a rating unencumbered by any
developments at GLOBAL Reinsurance Company. After GLOBAL Re had got into a
tilt in 2001 and 2002, it discontinued writing new business in October
2002. Existing non-life reinsurance treaties are now running off, which
will take quite a number of years.
(c)DGAP 05.07.2006
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Language: English
Issuer: GLOBALE Rückversicherungs Finance Alpha B.V.
Strawinskylaan 3105
1077 Amsterdam Niederlande
Phone: 0221-2889-281
Fax: 0221-2889-281
E-mail: andre.nazarian@globalre.com
WWW: www.globalre.com
ISIN: XS0133491000
WKN: 701555
Indices:
Listed: Amtlicher Markt in Luxembourg
End of News DGAP News-Service
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