Alea completes European renewal rights sale
Alea Group has announced that its subsidiary Alea Europe has completed the sale of the renewal rights of part of its reinsurance business to SCOR. The sale covers its property and casualty treaty portfolio, which constitutes the majority of Alea Europe’s business.
Under the terms of the agreement SCOR will pay Alea Europe in cash a commission equal to 9.5% of gross premiums written on renewed European reinsurance business of Alea Europe incepting in 2006.
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