Scorverium deal stacks up, says analyst
In a note to investors, analyst William Hawkins at Keefe Bruyette and Woods (KBW) has described the possible tie-up of European reinsurers Scor and Converium as being earnings accretive and demonstrating good industrial logic.
The analyst said that the move had taken it by surprise but stacks up financially, with a prospective improvement in earnings per share of 2% on offer, as well as possible annual cost savings of 8%.
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