Covéa Group: Statement on CMAP Arbitration

PARIS--(BUSINESS WIRE)--The Covéa Group advises that on 25 June 2026, the arbitration tribunal under the aegis of the Centre of Mediation and Arbitration of Paris (CMAP), issued its ruling for the litigation between the SCOR and Covéa groups regarding the two retrocession treaties concluded on 30 June 2021.

The arbitration tribunal decided that:

• SCOR has failed to comply with its pre-contractual and contractual obligations to provide information.
• In respect of compensation for the damages suffered by Covéa as a result of these breaches, SCOR should be deprived of the sums claimed against Covéa under the treaties until 31 December 2025, totalling USD 488,300,000.
• Once this damage has been compensated, the retrocession treaties will continue.

The Covéa Group takes note of this decision of the arbitration tribunal which awards compensation to Covéa in recognition of a breach by SCOR of its duties towards its counterparty.

ABOUT COVÉA
Covéa is a mutual insurance group that is a European leader in insurance and reinsurance. It is a solid and dynamic financial institution, France’s number one motor and home insurer through its three brands MAAF, MMA and GMF, and one of the world’s largest reinsurers via its PartnerRe brand. Covéa is a major contributor to the regional economies in which it operates, through its 25,000 employees in France and around the world and protects 11.1 million customers and members in France.