Scor Faces $56.8 Million Hit After Tribunal Ruling Against Covea

The legal dispute stems from two agreements signed in June 2021, which facilitated the transfer of 30% of the life and health portfolio held by Scor’s Irish entities. According to Covea, the reinsurer neglected its precontractual and contractual duties to provide necessary information during the execution of these treaties.

Scor confirmed that while the judgment requires a 50 million euro charge against its net results, the company’s liquidity and solvency ratios remain unaffected. Despite the setback, the firm maintains it is proceeding with the final year of its current strategic plan.