French reinsurer Scor (SCOR.PA) is to pay $913 million for most of Dutch insurer Aegon's (AEGN.AS) Transamerica Reinsurance operations, to make it the second largest life reinsurer in the United States. Aegon, which has been winding down and selling operations after requiring state aid at the height of the credit crisis in 2008, said on Tuesday the disposal would help it repay outstanding aid of 1.125 billion euros ($1.6 billion). The deal is the latest in a round of consolidation in the North American life reinsurance market, as companies try to position themselves for a rebound after the financial crisis. Last October, Warren Buffett's Berkshire Hathaway (BRKa.N) (BRKb.N) agreed to buy Canadian insurer Sun Life Financial's (SLF.TO) reinsurance business.
Sun Life Financial Inc. (Sun Life Financial) is an international financial services organization, offering a diverse range of life and health insurance, savings, investment management, retirement, and pension products and services to both individual and corporate customers. Shares of SLF remained unchanged at $31.72. In the past year, the shares have traded as low as $22.14 and as high as $34.66. On average, 478341 shares of SLF exchange hands on a given day and today's volume is recorded at 0.
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