SCOR SETTLES BARCLAYS LEGAL ACTION

Scor has settled its legal dispute with Barclays. The Paris-based reinsurer said the settlement before the High Court in London had been reached on “mutually acceptable terms”. Scor has sued UK bank Barclays for its part in the failed hostile takeover of the French reinsurer by mutual insurer Covéa, according to Reuters. The reinsurer alleged that Barclays used confidential information to help Covéa “sabotage” its plans to merge with another reinsurer, PartnerRe. Last week Scor reached a peace deal with Covéa. The two companies signed a binding agreement to abandon all legal actions related to the failed takeover and renew their relationship based on “trust and mutual support”.