SCOR Increases Its Stake in IRP

SCOR Group recently announced that, as a result of recently held negotiations with one of the shareholders of IRP Holdings Ltd, it has offered to purchase 6.67 percent of the share capital of this company. SCOR currently owns 46.7 percent of IRP Holdings, an Irish based company incorporated at the end of 2001.

The other shareholders of IRP Holdings Ltd will be able to exercise their pre-emptive rights, pro rata to their existing holdings, over the next few weeks.

This transaction is in line with the Group’s objectives of reinforced control over its activities and will permit an increased consolidation of the results of this subsidiary in 1H 2003 accounts.