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Scor frontrunner to capture Scottish Re

French insurer Scor is to launch a bid to purchase Bermuda-based Scottish Re, the Financial Times' German division has reported.

Scor first floated its interest in the reinsurer in the summer, but is now ready to submit an offer, FT Deutschland suggests.

Goldman Sachs is reported currently reviewing offers for Scottish Re, but the Financial Times considers the French outfit to be a frontrunner.

Scor appears to be looking towards acquisitions to rebuild strength into its business following a period of severe weakening from high claims, particularly in the US.

Scottish Re has a market value of $560 million, a book value of double that and is the third largest life reinsurer operating in the US.