Two European reinsurance rivals are reported to be in the running to buy Scottish Re, the embattled Bermuda-based reinsurer that last month lost its chief executive and warned of large second-quarter losses.

Reuters reports that Germany's Hannover Re has made a preliminary bid for Scottish Re, while German newspaper Handelsblatt says French rival Scor has signed a confidentiality agreement with the company.

Jonathan Sibun

Hannover Re

Goldman Sachs

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Reinsurance rivals fight for Scottish Re

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