services to banking companies, has been acquired by a group that includes two units of French banking company Paribas.
IBIS Group Inc., the Irvine-based consortium formed to acquire Duerr, is jointly owned by Paribas Principal Inc., Scor SA, Cardif SA, and Roger Duerr, chief executive officer and former owner of the company.
Scor, a Paris-based reinsurance company, had 1998 gross premiums of about $2.44 billion. Paribas Principal of New York is the investment arm of Paribas.
The deal gives Cardif, Paribas' insurance unit, entree to the U.S. market. Cardif operates in 19 countries, primarily in Europe and South America.
Douglas P. Jackson, Duerr's president, declined to reveal the terms of the deal, which closed on Sept. 8. He said the company's management would not change. --Amy L. Anderson