An arbitral tribunal chaired by the Paris Center for Conciliation and Arbitration (CMAP) has issued a ruling in the lawsuit between SCOR and Covea, awarding the latter US$488.3 million in compensation for two transfer treaties signed on June 30, 2021.
The corporate feud between the French insurance giants first began with a hostile takeover bid in 2018 and led to years of public litigation and criminal trials.
Following a mediated “peace agreement” in 2021, the parties entered into a treaty providing for the transfer to Covéa of 30% of the life and health portfolio held by SCOR’s Irish entities as of December 31, 2020.
However, a subsequent dispute over the portfolio’s valuation led to private arbitration proceedings in 2022.
This debate is now over. Yesterday, June 25, 2026, the arbitral tribunal confirmed the validity of these treaties and their continued performance in accordance with their terms. SCOR nevertheless decided that Covéa must be paid millions of dollars in compensation.
“The Covéa Group takes note of this decision of the arbitral tribunal, which recognizes that SCOR breached its obligations towards the other party and therefore awards compensation to Covéa,” Covéa said in a statement.
At the same time, SCOR noted that the impact on its net profit in the second quarter of 2026 will be approximately 50 million euros after taking provisions into account, with no negative impact on its solvency ratios and liquidity position.
SCOR added that it remains fully focused on executing the final year of its forward plan to 2026 and continues to emphasize balance sheet resilience and disciplined underwriting in a more competitive market.