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SCOR Global Life Americas Holding Inc., a subsidiary of SCOR Global Life SE, and Assicurazioni Generali S.p.A. (“Generali”) have entered into a definitive agreement pursuant to which SCOR will acquire 100 percent of Generali U.S. Holdings, Inc. (“Generali U.S.”), the holding company of Generali’s U.S. life reinsurance operations, for a total cash consideration of EUR 579 million (US$750 million) plus a 2013 earnings adjustment through the closing date. This price represents a significant discount to SCOR’s preliminary estimated embedded value of the Generali U.S. portfolio. 

The transaction encompasses (a) the stock purchase of Generali U.S. and its operating subsidiaries, including Generali USA Life Reassurance Company (“Generali USA”), which employs a staff of approximately 120 in Kansas City; and (b) the recapture of the retrocession agreements between Generali USA and Generali. 

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