French group SCOR is purchasing the mortality portfolio of Transamerica Re. The acquisition of AEGON’s division is valued at $912.5 million, which consists of statutory equity of $497 million for the entity. The deal is being financed by SCOR without the issuance of new shares. SCOR has received $1.8 billion of assets in cash and securities as well as corresponding liabilities from AEGON. The transferred asset portfolio comprises 55% cash, 40% investment-grade corporate bonds and less than 5% U.S. Treasuries.
Click here for the release from SCOR.