In alignment with its Vision in Action strategic plan SCOR Global Life has announced a new organisational structure with three new business areas: Reinsurance, P&C Partners and Specialty Insurance.
The company says this move will support its ambitions for the future, as it looks to address the evolving needs of its clients and to strengthen its position in a rapidly changing risk ecosystem.
SCOR Global Life’s Vision in Action strategy consists of the development of a Tier 1 U.S reinsurance franchise, the establishment of a fully integrated London Speciality Insurance Platform, the enhancement of its corporate risks re/insurance unit, and the deployment of a dedicated Managing General Agent (MGA) platform.
The company says it is progressing well with the plan’s execution and has confirmed its expectation of achieving a gross written premium compound annual growth rate in the range of 5% to 8%, and a normalized net combined ratio of ~95% to 96% over the life of the plan.
In regards to the new organisational structure, Jean-Paul Conoscente and Umberto Gavazzi have been appointed Chief Executive Officer and Deputy CEO of the Reinsurance business unit, which is the core business of SCOR Global P&C, respectively.
Sylvie Van Viet has been named CEO of the newly-created P&C Partners business unit. Vincent Foucart and Adrian Jones have been appointed Deputy CEOs of P&C Partners, in charge of Alternative Solutions & Technical Development and P&C Ventures & Strategic Partnerships respectively.
Laurent Rousseau has been named CEO of the Specialty Insurance business unit, in addition to being Deputy CEO of SCOR Global P&C and a member of the Group’s Executive Committee.
