British bank Barclays and Paris-headquartered reinsurance group SCOR have reached a settlement following the latter’s reconciliation with French insurance group Covéa.
“In consideration of certain commitments by Barclays and SCOR, the parties have settled the dispute before the High Court in London on mutually acceptable terms,” stated SCOR in a release without providing further details.
The reinsurer was suing Barclays for its supposed role in SCOR’s widely publicised row with Covéa. (More on that here.) The insurance groups have since signed a settlement agreement, key points of which include the immediate withdrawal of all legal actions by both camps.
The civil action against Barclays was first reported by Insurance Business in January 2019.
