Switzerland has instructed Credit Suisse to cancel or reduce by 50 or 25% all outstanding variable renumeration for the top three levels of management, the Swiss Federal Council said in a statement on Wednesday.
Exor, the holding company of Italy's Agnelli family, has restarted talks with French insurer Covea over a possible sale of reinsurer PrtnerRE, Il Sole 24 Ore reported on Saturday, after the deal was scrapped last year due to the pandemic.
Covea, the top shareholder of Scor, on Thursday agreed to an orderly exit from Scor as the battling insurance groups reached a settlement over a frustrated takeover attempt and ensuing legal disputes.